GoGreen Business Energy Financing
Open for finance company enrollment
GoGreen Business Energy Financing is accepting applications from finance companies that would like to provide financing to small businesses for energy efficiency upgrades.
Finance company benefits
- Mitigate risk through a credit enhancement provided at no cost to you or your customers. The first $1 million of claim eligible financing will receive a loss reserve contribution.
- Utilize the credit enhancement to approve a wider set of customers or offer more competitive rates and terms.
- Offer customers the convenience of making payments for energy upgrades through their utility bill. On-Bill Repayment (OBR) securely routes payments from the customer’s utility to the finance company. (Coming in Fall 2021)
- Partner with the State of California and investor-owned utilities to reach more customers through a statewide marketing campaign.
- Introduce your preferred contractors to the program or build relationships with our network of participating contractors.
- Program supports a variety of products: loans, leases, equipment finance agreements, service agreements and savings-based payment agreements.
- Building owners and tenants are eligible.
- Small businesses and nonprofits can qualify by having annual revenues of less than $15 million or fewer than 100 employees, or by meeting SBA size requirements for their industry.
- Finance companies set their own underwriting criteria.
- Projects can qualify through a broad list of pre-approved measures, professional certification or as part of a utility rebate or incentive program.
- Up to 30% of the financed amount may be used for non–Energy Saving Measures and still receive the credit enhancement.
- Streamlined pathway for microloans $10,000 and under.