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.
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.
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.