Tennessee businesses looking to make energy improvements may have just the motivation they need thanks to a newly lowered interest rate of 2 percent on five-year loans. Available through Pathway Lending, the loan is offered as part of their Energy Efficiency Loan Program in collaboration with TVA, the State of Tennessee, and Pinnacle National Bank.
TDEC Commissioner Bob Martineau announced that the interest rate has been lowered to in order to make the program even more beneficial and accessible to Tennessee businesses at the Tennessee Environmental Conference held in Kingsport.
The 2 percent rate is available on five-year loans to businesses that undertake energy projects that include energy-saving measures. Standalone renewable energy projects are eligible to receive ten-year loans at five percent interest.
Read the full press release here: Energy Efficiency Loan Program Interest Rate Lowered, Increases Savings Opportunities For Tennessee Businesses