New Generation Energy - Community Food Service Efficiency Lending Program (Vermont)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Vermont

Name New Generation Energy - Community Food Service Efficiency Lending Program
Incentive Type Local Loan Program
Applicable Sector Agricultural, Commercial, Industrial, Nonprofit, Schools, (any for-profit or non-profit enterprise involved in food storage or cooking)
Eligible Technologies Custom/Others pending approval, Refrigerators, Commercial Cooking Equipment, Commercial Refrigeration Equipment, Food Service Equipment, Convection Ovens, Steamer, Fryer
Active Incentive No
Incentive Inactive Date 2012-03-28
Implementing Sector Local
Energy Category Energy Efficiency Incentive Programs
Amount 5,000 to 100,000







Start Date 05/2009


Funding Source NGE's Renewable Energy Investment Note and Private Donations to NGE




Maximum Incentive 100,000









Terms Loans up to 1-10 years, rates vary from 0 to 5% (subject to change)
Program Administrator New Generation Energy
Website http://www.newgenerationenergy.org/?q=community-lending/community-lending-program
Date added to DSIRE 2009-09-30
Last DSIRE Review 2012-03-28
Last Substantive Modification
to Summary by DSIRE
2012-03-28


References DSIRE[1]


Summary

2012 Update: This loan program is no longer available, the information provided is for reference only.

The Boston-based, non-profit organization New Generation Energy offers low interest loans for the installation of ENERGY STAR rated kitchen appliances via its Community Food Service Efficiency Lending Program. The ENERGY STAR appliance loans are available to companies (including sole-proprietorship) and non-profits in New England (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont), with an emphasis on those located in low and middle-income communities. Examples of eligible organizations include restaurants, school cafeterias, church commissaries, coffee shops, grocery stores, and wholesale food distributors (in other words, any business or non-profit that stores or cooks food). The interest rate is currently 5.0%, although certain projects may be awarded grants and receive a lower interest rate. Only projects applying for loans are eligible for grants. The interest rate and terms are subject to change.

Interested businesses and non-profits should work with ENERGY STAR rated appliance distributors and/or installers to receive a price quote. After quotes have been received, they must submit a pre-application to the Community Lending Program. New Generation Energy staff will review the pre-application and will invite only qualified projects to complete a full application. A personal guarantee is normally required for loans. After a site visit, the final determination is made and loan terms are offered to the successful applicants.

There are also loans available for solar electric and solar water heating. Pre-applications are available at New Generation Energy's web site.


Incentive Contact

Contact Name Community Lending Officer
Department New Generation Energy
Division Community Lending Program
Address 98 N. Washington St., Suite 305

Place Boston, Massachusetts
Zip/Postal Code 02114
Phone (617) 624-3688


Email clp@newgenerationenergy.org
Website http://newgenerationenergy.org
     
     


















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency (DSIRE)"