Sustainable Development Loan Fund (New Jersey)

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Summary

Last modified on May 23, 2011.

Financial Incentive Program

Place New Jersey

Name Sustainable Development Loan Fund
Incentive Type State Loan Program
Applicable Sector Commercial, Industrial, Nonprofit
Eligible Technologies Custom/Others pending approval
Active Incentive No

Implementing Sector State/Territory
Energy Category Energy Efficiency Incentive Programs
Amount Varies by technology















Maximum Incentive Up to 90% of costs up to 500,000









Terms Maximum term of 10 years; interest rate is determined by NJEDA rates and Public Policy Scoring Schedule; 1,000 loan service fee
Program Administrator N.J. Commerce and Economic Growth Commission
Website http://www.nj.gov/njbusiness/financing/enviromental/sustainable.shtml
Date added to DSIRE 2005-06-16
Last DSIRE Review 2008-08-08



References DSIRE[1]


Summary

The Office of Sustainability within the N.J. Commerce and Economic Growth Commission oversees a sustainable development low-interest loan fund to assist in capitalizing sustainable projects. Funding development that engages in pollution prevention, energy conservation or sustainable production are all eligible measures under this loan. Eligible capital expenditures include, but are not limited to equipment, machinery, land, buildings, and production and marketing costs. In order to apply, the applicant should submit a complete notarized application and a $1,000 application fee. The application will then be reviewed on its technical merits and then on the applicant's financial grounding.

Participants in this program must make at least a 10% equity contribution toward project costs and loans are limited to $500,000 per proposal. Loans have a maximum term of 10 years and interest rates will vary based on the interest rates of the New Jersey Economic Development Authority (NJEDA) and the Public Policy Scoring Schedule. As with other New Jersey business assistance programs, the Sustainable Development Loan Fund requires a Tax Clearance Certificate verifying that the recipient is in full compliance with their state tax obligations.


Incentive Contact

Contact Name Lloyd Oxford
Department New Jersey Commerce Commission
Division Sustainable Development Loan Fund
Address 20 West State Street
Address 2 P.O. Box 820, 4th Floor
Place Trention, New Jersey
Zip/Postal Code 08625-0820
Phone (609) 633-0984
Phone 2 (866) 534-7789

Email Lloyd.Oxford@commerce.state.nj.us
Website http://www.state.nj.us/njbusiness/
     
     

  • 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)"