Low Cost Energy Efficiency Loans
Small Business and Non-profits
East Cambridge Savings Bank offers loans to qualified Small Businesses located in Cambridge. Multiple financing options are available.
Key Equipment Finance offers Financing Options to Small Businesses located within Cambridge. Tax-exempt options are available to certain borrowers. Key National Finance (KNF) is the U.S. umbrella overseeing Key Equipment Finance (KEF) and all domestic financing services. KEF is one of the largest U.S. bank-affiliated equipment leasing companies. KEF specializes in financing and leasing for small, medium, and large businesses, state and local municipalities, federal government organizations, not-for-profit entities, and focuses on five core commercial industries.
New Generation Energy's Community Lending Program offers small short-term loans for solar energy installations, or efficiency improvements in the food service industry.
Large Business and Non-profit Institutions
Bostonia Partners LLC works with clients to develop financing solutions for larger, more complex projects. Bostonia is a leader in structuring financings for energy related projects and works to obtain the lowest cost and most efficient borrowing for clients. Bostonia has established a new entity, Bostonia Clean Energy Finance LLC specifically dedicated to provide funding for businesses, governments, and non-profit institutions taking part in the Cambridge Energy Alliance initiative. Bostonia will arrange financings at the optimal price for borrowers. Bostonia’s Innovative Financing Options offer clients a wide range of options from traditional structures to off-balance sheet financing.
MassDevelopment provides flexible loans for brown fields redevelopment, and tax-exempt bonds for non-profits, affordable housing or assisted living, manufacturing or recycling facilities and equipment.
Residents
The Mass Save HEAT Loan by NSTAR in collaboration with the state and other utilities, offers a no-interest loan program that allows homeowners to borrow up to $15,000 which can be paid back over a 7 year period. Lenders participating in a federal energy efficient mortgage program may roll the cost of efficiency related improvements into a mortgage.
East Cambridge Savings Bank offers Cambridge homeowners unsecured Energy Efficiency Loans for Cambridge Energy Alliance projects up to $25,000. The Bank is offering these loans at special rates to qualified borrowers. Secured loans are also available. East Cambridge Savings Bank Energy Efficiency Loans are available at any of their three branches conveniently located throughout Cambridge.
Citizens Bank offers an unsecured Energy Efficiency Loan for low-to-moderate income homeowners or homeowners that live in moderate-income tracts. Citizens Bank Energy Efficiency Loans are available at 3% APR for energy conservation projects up to $3,000 and 5% APR for energy conservation projects up to $10,000. Stop by any of the Citizens Bank branches in Cambridge for more information.
Wainwright Bank offers a secured Green Loan to qualified homeowners. The Wainwright Bank Green Loan is available with 5, 10 and 15 year terms. The maximum loan amount is $100,000 and at least 50% of the loan must be for “Green Purposes." Visit any of the bank’s four branches located in Cambridge.
