Green Revolving Loan Fund
There is now a loan fund for Dutchess County businesses that are planning upgrades and improvements that will reduce their energy consumption and/or for utilizing alternative energy. Known as the Green Revolving Loan Fund (Green RLF), the "green" fund can be accessed through Dutchess County Economic Development Corporation (DCEDC).
Loans will be from $5,000 to $75,000. Projects must show that they will create new jobs or retain existing jobs. Applicants could be businesses, nonprofit employers, or building owners. Uses might include solar, wind, green-planted roofs, energy-efficiency measures, better machinery, boiler retrofits, or geothermal systems, to name a few.
The interest rate for the "green" RLF will be the prime rate. An energy audit is recommended. Loan terms will attempt to match the company's energy savings, up to a maximum of 7 years. For additional information, contact Catherine A. Maloney, Acting President and CEO at cmaloney@dcedc.com or 845.463.5415.