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.

 



New Hamilton County Businesses

Here are the new business licenses from the County Clerk's office: 1016 ON NORTHSHORE LEOPOLDO  E ORMAZA SHORT TERM RENTAL 1016 MERONEY CHATTANOOGA TN 37405 3 MOVERS 1 TRUCK LLC MONTY  WILLIAMS MOVING COMPANY VARIOUS LOCATIONS CHATTANOOGA TN 37402 ACCESS CONTROL TECHNOLGIES, LLC SCOTT  UNDERBRINK LOW VOLTAGE INSTALLATION ... (click for more)

Chattanooga Chamber Calendar For Sept. 25-29

Here is the calendar for the Chattanooga Chamber of Commerce for Sept. 25-29: Tuesday, Sept. 26, Government Contracting: Managing the Maze to Get the Contract 9-11:30 a.m. BrightBridge Women’s Business Center: 535 Chestnut St., Ste. 161 Are you ready for government contracting? How to sell your products and services to federal, state and/or local governments. How to register ... (click for more)

State Finds Photos Of Guns Used In Lookout Valley Murders On Morse's Phone, But Defense Says It Got Evidence Too Late

Prosecutors said Monday that there were six photos on the phone of Derek Morse of guns tied to the murder of three people at a Lookout Valley trailer park. However, defense attorney Dan Ripper said the phone should have been checked out years ago - not on the eve of the trial. He said he got the photos last Monday - the day before jury selection began. Prosecutor Lance ... (click for more)

Opportunity Zone Begins Effort To Transform 12 Low-Performing County Schools

The Hamilton County Department of Education announced the new Opportunity Zone team that officials said "will ensure every student is post-secondary ready." The schools in this zone are: Brainerd High, The Howard School, East Lake Middle Academy, Dalewood Middle, Orchard Knob Middle, Barger Academy of Fine Arts, Calvin Donaldson Environmental Science Academy, Clifton Hills ... (click for more)

Titans Hide In The Locker Room

This Sunday, as has been widely reported, the Tennessee Titans and the Seattle Seahawks both chose to remain in their respective locker rooms during the playing of the National Anthem at Nissan Stadium.  Besides the fact that the NFL game operations manual has a rule regarding player behavior during the playing of the National Anthem which requires them to stand at attention ... (click for more)

Roy Exum - ‘Let’s Talk Real Life’

In mid-November of 2015, the Missouri football team very unwisely went on strike. A black student had refused to eat until a list of racially-based demands were met. Some on the football team were sympathetic and it quickly morphed into the biggest catastrophe in the annals of higher education. The university would lose hundreds of millions, athletic donations dropped 72 percent, ... (click for more)