Small Business Energy Loan Program
Tennessee businesses with fewer than 300 employees or less than 3.5 million
dollars in annual gross sales or receipts are eligible for the Small
Business Energy Loan Program. Since many small businesses find it difficult
to raise capital for energy friendly renovations, the Energy Division will
help eligible companies upgrade the level of energy efficiency in their buildings,
plant and manufacturing processes.
Free audits to identify potential sources of energy efficiency improvements,
technical assistance and low-interest loans are available. Companies are able
to borrow up to $100,000 and repay monthly over a period of up to 7 years.
Local Government Loan Program
The Local Government Energy Efficiency Loan Program offers low interest loans
to municipal and county governments for energy efficiency-related projects
in courthouses, administration buildings, schools and maintenance facilities.
Eligible projects include energy efficient lighting, heating, ventilation
and air conditioning and boiler rebuilding, replacement or modification.
Local governments may borrow up to $500,000 and repay the loan back
annually for 7 years. The current annual interest rate is 3% and is
subject to change. Free energy audits and technical assistance is available.
