Wednesday, February 9, 2011
New Opportunity Fund Loans: GreenforGreen
YAY! I love initiatives like this one! Found out about it via an email from Opportunity Fund:
Opportunity Fund has received a $3 million grant from JPMorgan Chase to support our small business microlending in the Bay Area. "This grant of private loan capital is the largest in Opportunity Fund's history, doubling our lending capacity overnight," said CEO Eric Weaver.
Chase and Opportunity Fund announced the grant, which is one of five investments Chase is making in Community Development Financial Institutions (CDFIs) across the nation, at a press conference in San Francisco on January 28th.
Opportunity Fund is using part of the grant to launch our new green lending initiative, GreenforGreen, to help small business owners reduce energy costs and environmental waste or provide sustainable products and services.
Grabbed this info from Opportunity Fund's website:
Opportunity Fund GreenforGreen Business Loans can be used to:
- Upgrade Equipment: Reduce energy costs (like water and electricity) by replacing your old equipment with newer, more efficient equipment.
- Comply with Environmental Regulations: You may need a filter for your truck engine or new equipment for your dry cleaning businesses in order to reduce pollution - and we can help.
- Sell More Eco-Friendly Products or Services: Use a loan to increase your inventory of eco-friendly products or ramp up marketing for your green services.
More details & eligibility info here. Opportunity Fund is already accepting applications for the GreenforGreen loans!