Pathway Lending is making it easier for Tennessee businesses to survive the summer heat wave and cut their cooling bills.
The Nashville-based lender announced it has chopped the interest rate to 3 percent from 5 percent for the Energy Efficiency Loan Program.
The reduced rate is available through Sept. 30. EELP loans can be used to finance projects such as energy efficient manufacturing equipment, building retrofits and renewable energy systems.
If anyone questions the value of a company making green investments, ask them if $7 billion is an adequate ROI.
That’s the net profit Dow Chemical, which has a plant in Knoxville, reports it has earned from investing $2 billion in energy efficiency projects. Since 1994, the company has found ways to save 1.8 quadrillion British Thermal Units of energy.
That’s a lot of green — saved and earned.
Here’s the full story as reported by Fortune:
Dow’s amazing $7 billion profit on green
East Tennessee businesses having a hard time getting loans for energy efficiency projects should attend one of Pathway Lending’s free “lunch and learn” workshops on Tennessee’s new $50 million Energy Efficiency Loan Program.
A workshop is scheduled Sept. 29 in Knoxville at Buddy’s BBQ Bearden Banquet Hall, 5806 Kingston Pike. On Sept. 30, Pathway Lending will be in theTri Cities area for a workshop at Pratt’s Real Pit Bar-B-Que, 1225 E. Stone Drive, Kingsport, Tenn.
Low-interest loans of $20,000 to $1 million are available.
The Knoxville region got its share of government largesse earlier this week with Gov. Phil Bredesen’s announcement of Energy Efficiency and Conservation Block Grants.
The governor did a good job of spreading the money around, delivering more than $9.2 million to 100 cities and counties. The grants are part of the Recovery Act money flowing out of Washington, D.C.