The Small Business Administration expands clean energy loan program

Published August 6, 2024 7:40 AM

AP Business Writer

NEW YORK (AP) — The Small Business Administration is looking to attract lenders to finance small businesses’ clean energy projects. It’s targeting lenders ranging from hyperlocal microlenders to nationally oriented financial institutions. Microlenders offer loans up to $50,000. A Certified Development Company is a nonprofit focused on economic development of its community. Lastly, a Community Advantage Small Business Lending Company, or CA SBLC, is a non-bank lender focused on “mission driven” projects. The CA SBLCs can apply to offer loans up to $2 million to finance climate-related projects.

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The Associated Press

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