Energy Efficiency Loan Program Interest Rate Lowered

Wednesday, March 13, 2013

Pathway Lending announced on Wednesday it has lowered the interest rate of the Tennessee Energy Efficiency Loan Program to two percent in order to make the program even more beneficial and accessible to Tennessee businesses.

The new interest rate is available on five-year loans to businesses that undertake energy projects that include energy-saving measures. Standalone renewable energy projects are eligible to receive ten-year loans at five percent interest. Originally, all loans were offered with an interest rate of five percent.

The program is available to any business seeking to reduce energy consumption of its Tennessee facilities through efficiency-improving projects or renewable energy production. To complement the rate reduction, the loan application process has been streamlined and approval times reduced.

The program was launched in 2010 to help Tennessee companies finance investments in energy efficient technology, energy-saving building retrofits and renewable energy systems, which reduce energy costs, operating expenses and greenhouse gases while spurring job growth.  As the first program of its kind in the nation, it gives Tennessee businesses an advantage by providing the resources needed to make real and lasting energy efficiency improvements. The state of Tennessee, Tennessee Valley Authority, Pinnacle Bank and Pathway Lending have each contributed funding to the program. 

“Since its launch, the program has provided nearly $10 million in funding to more than 50 businesses across the state,” said Clint Gwin, president of Pathway Lending. “These funds have helped businesses install high-efficiency lighting, purchase energy efficient equipment, upgrade HVACs and produce renewable energy. Each lowers energy costs and makes those businesses more competitive.”

Pathway’s announcement was relayed to various members of the environmental community by Tennessee Department of Environment and Conservation (TDEC) Commissioner Bob Martineau during the Tennessee Environmental Conference, held in Kingsport, Tn. this week. 

“The Tennessee Energy Efficiency Loan Program provides businesses in our state a unique advantage and a tremendous opportunity to become more competitive now and for decades to come,” said Mr. Martineau.  “The financial impact of energy efficiency is often underestimated, even by business owners. These loans and the technical assistance provided with them make realizing those benefits as easy as possible.”

To learn more about the Tennessee Energy Efficiency Loan Program, please visit www.pathwaylending.org or call 615 425-7171.

 


Attorneys Batts And Taylor Elected To Lead State Drug Court Association

The Tennessee Association of Drug Court Professionals has elected attorneys Kevin Batts and Richard Taylor to leadership positions in the statewide group. Mr. Batts will serve as president and Mr. Taylor will serve as vice president of the association in 2015. Mr. Batts is director of the Drug Court in the 23rd Judicial District, serving five counties of Middle Tennessee. He ... (click for more)

Karen Tindell And Kelly Still Join Southern Community Bank

Robert Stahl, Chattanooga city president of Southern Community Bank, announced Karen Tindell and Kelly Still have joined the Chattanooga branch. “Karen joins the staff as assistant vice president and Kelly joins the staff as a commercial lender,” said Mr. Stahl.  “Together Karen and Kelly collectively have over 50 years’ experience in the financial industry with regional ... (click for more)

2 Suspects Sought In Armed Robbery At Highway 153 Long John Silver's

Police are searching for two suspects in an armed robbery that happened Friday morning. At approximately  8:10  a.m. the Chattanooga Police Department responded to 5317 Highway 153 for a robbery at the Long John Silver's.  Officers discovered that two black men, wearing hoodies and masks, entered the Long John Silver's and forced the assistant manager ... (click for more)

Pair Charged With Beating Man With Stick, Taking His Wallet

Two men are charged with beating a man with a large stick while he slept on the steps of a downtown church, then taking his wallet. Jerry Quincy Allen, 45, and James Leo Boas, 40, both of 727 E. 11th St., are charged with aggravated robbery. In the incident on Wednesday, Bradley Casehart said he and a friend were asleep at Tompkin Chapel Church on Palmetto Street. He ... (click for more)

Please Don't Close The Piccadilly Cafeteria At Hamilton Place - And Response

Oh, no. The Piccadilly Cafeteria at Hamilton Place is closing.  Its last day is Christmas Eve.  I will miss the great food they have there but most of all I will miss their servers, cashiers and waitresses.  They are all so friendly and accommodating.  They make it like it’s a home-style restaurant. I sure wish there was some way that Hamilton Place and ... (click for more)

Roy Exum: ‘Scrooge’ Of The Year

As we move into the last weekend before Christmas, the “Scrooge of the Year” has just appeared in Aurora, Ill. Actually Connie Ley has just died. She passed away on Nov. 25, but in her wake left the worst will many around the country have ever heard – her last wishes included that her nine-year-old dog should be put to death, cremated, and buried with her. Bela, a beautiful German ... (click for more)