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.

 


Senator David Perdue Announces Banking Subcommittee Assignments

U.S. Senator David Perdue, a new member of the Senate Banking Committee, on Tuesday announced his Banking Subcommittee assignments for the 115th Congress: Financial Institutions and Consumer Protection; National Security and International Trade and Finance; and Economic Policy.  “After spending 40 years in the business world working closely with our job creators and trade ... (click for more)

Chattanooga Chamber Mayors' Business Breakfast Is Wednesday

The 2017 Mayors’ Business Breakfast featuring keynoter David Altig, executive vice president and director of Research at the Atlanta Federal Reserve Bank will be held Wednesday from 7:30-9 a.m. City of Chattanooga Mayor Andy Berke and Hamilton County Mayor Jim Coppinger will give economic updates.  The Chattanooga Area Chamber of Commerce presents the Mayors’ Business ... (click for more)

County Commission Votes 8-1 To Deny Permit For Controversial Bakewell Firing Range

The County Commission voted 8-1 on Wednesday to deny a special exceptions permit for a $2.4 million firing range at Retro-Hughes Road at Bakewell. Only Commissioner Greg Martin was in support. Opponents and supporters were again gathered at the courthouse, but the commission voted without hearing further argument. Commissioner Randy Fairbanks said to him "it is not a gun ... (click for more)

City Council Told Cost Has Soared For Moving Sewer Line Off Tubman Industrial Site

City Council members were told on Tuesday that the cost has soared for moving a sewer line completely off the Harriet Tubman industrial site. Bill Payne, city engineer, said it initially was around $1.5 million, but is now pegged at over $4 million. Councilman Chris Anderson, who heads the council's economic development committee, said the assertion brought "stunned looks" ... (click for more)

Beyond Freedom Of Speech - And Response

Yes, most people know about the First Amendment to our Constitution, "The right, guaranteed by the First Amendment to the U.S. Constitution, to express beliefs and ideas without unwarranted government restriction."  I being a "deplorable" draw the line when people block traffic, try to disrupt, and even stop an activity through malice and disregard for others. Case being ... (click for more)

Roy Exum: Want To Protest? Get Paid!

In a troubling time when “false news” is the rage and people ask me – to my face – if anybody from Russia ever approached me personally searching for votes for President-elect Donald Trump, there appears a website that, to cop a phrase, “is too good to be true.” There is a group out of California that allegedly wants to hire “operatives” to protest Friday’s inauguration. Forget ... (click for more)