E-News Blast, No. 32, April 15, 2010
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Low Interest Loans Available for Manufacturing Facilities
Applications were released today for the Clean Energy Business Financing Program (CEBFP) making available more than $30 million in low interest loans to eligible California clean energy manufacturing businesses. The CEBFP will use American Recovery and Reinvestment Act (ARRA), State Energy Program (SEP) funds for 2.75 percent interest rate loans to private companies to reduce California energy use, increase renewable energy generation, and create and/or retain California jobs.
Loans to qualifying applicants will be a minimum of $50,000 to a maximum amount of $5 million. The Energy Commission is working with the California Business, Transportation and Housing Agency, and four Financial Development Corporations (FDCs) located throughout California that will evaluate applicants' financial qualifications and manage loans. The participating FDCs are Pacific Coast Regional Small Business Development Corporation and San Fernando Valley Small Business Financial Development Corporation in Southern California, State Assistance Fund for Enterprise, Business and Industrial Development Corporation (SAFE-BIDCO) in Northern California, and Valley Small Business Development Corporation in San Joaquin Valley.
All applicants must submit their completed loan applications to the Energy Commission by 5 p.m. on May 6, 2010.
For more information including the CEBFP Announcement, Application, Application Instructions, and the FCDs visit www.energy.ca.gov/recovery/cleanenergy.html or the FDC websites.
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