Green Loan Fund Guidelines

Green Loan Project Guidelines

Green Loan Project Guidelines

What Projects will be considered?

Capital improvements that improve the efficiency of the facility/institution.  A return on investment (ROI or payback) must be predicted and calculated both before the project commences and after the project is completed.  Examples of projects might include:

  • Lighting improvement/upgrades/retrofits.
  • Mechanical equipment upgrades/retrofits/replacements.
  • Automation and controls for lights and/or mechanical equipment.
  • Geothermal installation.
  • Solar generation.
  • Wind generation.
  • Generators/battery back up.

 

How will a Loan determination be made?

Facility dependent, to be determined on a case-by-case basis.  Issues to be considered:

  • What is the environmental benefit and/or carbon footprint reduction?
  • If multiple loan requests are received at once, the best ROIs will be considered first.
  • Financial stability of the institution: general sense of ability/feasibility to pay back the loan.  Short ROIs may make for easier paybacks.
  • How many projects/scope of projects is the institution considering?  Is this a multi-phase upgrade, or one small project?
  • How much is the institution investing in the proposed project(s) (resources, capital, etc.)?
  • Likelihood of project moving forward if full requested amount is not loaned.
  • Is the institution leveraging rebates, grants, or other funding sources to reduce net out of pocket expense?

o   If the loan is covering amount of rebate or grant, that amount would be paid back in one lump sum payment to the Associated.

  • Is the project addressing large one-time capital investment due to end-of-life equipment? Would the failure of this equipment cause significant financial detriment to the institution?
  • Does the institution have a plan, fund or reserve for capital improvements?
  • Institution agrees to join the Baltimore Jewish Sustainability Coalition and share best practices, etc.
  • The institution will participate in a follow up interview to be featured in a case study to promote the green loan.

 

Loan Size

Facility dependent, do be determined on a case-by-case basis.  Issues to be considered:

  • Percent of institutional contribution to the project (s).
  • Amount of other funding sources to be leveraged.
  • Length of payback.
  • Likelihood of project completion if full requested amount is not loaned.

 

Application Requirements

Any request for a loan (or loan guarantees) must be made in writing, and shall include:

  • The amount of the requested loan
  • The proposed used of the loan amount
  • Other attempts to obtain financial assistance
  • Proposed terms of the loan including:

o   Collateral offered

o   Payback terms

Any request shall be accompanied, at minimum, by:

  • The attached application
  • A current Budget
  • A current business plan
  • Financial statements for the prior three (3) years
  • Two-Three bids for work depending on the size of the loan.  If the loan request is between $10,000-$50,000 two bids are required.  If the loan request is for more than $50,000, three bids are required.