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.

 



Chattanooga Chamber Calendar Of Events Feb. 20-22

Feb. 20 Red Bank Chamber Council Meeting Noon to 1 p.m. Red Bank Community Center: Tom Weathers Dr. $10 Feb. 21 Southside Chamber Council Community Coffee 8 to 9 a.m. The Barn Nursery: 1801 E. 24th St . Feb. 21 Reality Check at Lookout Valley High School 8:30 to 10 a.m. Lookout Valley High School: 350 Lookout High St . Reality ... (click for more)

Chattanooga Gas Files First Rate Request In 8 Years

Chattanooga Gas on Thursday filed its first general rate request in eight years with the Tennessee Public Utility Commission. The company reports in its petition that a $7 million increase in base rates is necessary for system improvements to accommodate new growth, avoid interruptions in service, install critical safety infrastructure and recruit and cross-train the next generation ... (click for more)

1 Person Killed In Accident Involving 18-Wheeler On Ochs Highway

A person was killed Saturday morning on Ochs Highway. An 18-wheeler was coming down the mountain, and hit three cars traveling up the mountain. Ochs Highway was closed in both directions, and HAZMAT crews were at the scene. More information will follow. (click for more)

Erlanger, UT Medical Say Working To Resolve Issues

Erlanger Health System and University of Tennessee College of Medicine officials said they are working through some issues, but expect to maintain their long-standing relationship. The entities said they "are facing a number of historic matters that are being addressed in a proactive manner. Our intentions are to transition to a more contemporary model, thereby enhancing ... (click for more)

The Right To Bear Arms, But Not Assault Rifles - And Response (2)

I am not a bleeding heart, liberal, left leaning, anti-second amendment person. I am a politically moderate conservative who believes in the right to bear arms, but not assault rifles. I am also a retired school principal who is tired of seeing innocent children slaughtered in our schools. I am also tired of nothing being done. Yes, mental health should be considered when ... (click for more)

Roy Exum: The Saturday Funnies

It wasn’t lost on me that during Valentine Week, when we most remember those we love, this first story was included in my weekly email. As has become my habit, every Saturday I try to come up with a new edition of The Saturday Funnies because I get some delightful ones that are shared by my friends during the week. We must never waste a giggle. So in keeping with my ... (click for more)