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Small business may qualify for low-interest loans of up to $300,000 for equipment upgrades to use landfill gas energy.
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Tennessee
Small Business Energy Loan Program
Tennessee businesses interested in upgrading the level of energy efficiency in their buildings or implementing a renewable energy system may qualify for low-interest loans of up to $300,000 through the small business energy loan program. These loans are available for those businesses with fewer than 300 employees or less than $3.5 million in annual gross sales or receipts.
Under the program’s guidelines, all renewable energy technologies, including landfill gas, are eligible. Projects funded under the loan must involve an existing building. In other words, the loan will only finance measures that are part of an existing building that an applicant uses in their operations. For instance, a new pipeline would not be financed, but perhaps the cost and installation of new fixtures in the building that would use the gas could be financed.
The loan is offered by the Tennessee Department of Economic and Community Development and has a maximum term of seven years. It is available with a zero percent interest rate for businesses in Three-Star or Main Street Communities, which are special economic development areas in the state. For all other businesses, a three percent interest rate applies.
Free energy audits are available to help interested companies identify potential opportunities for increased energy efficiency. Loan amounts vary by project.
For More Information
Contact:
Clinton Berry, III
Tennessee Department of Economic and Community Development
Grants and Loans Division
312 Eighth Avenue North, 10th Floor
Nashville, Tennessee 37243
615-253-1943
Fax: 615-741-5070
E-mail: clinton.berry@state.tn.us
Web site: www.state.tn.us/ecd/energy_sbel.htm
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