- A 0% interest loan up to $500,000 for qualified energy efficiency measures.
- Interest is paid to the lender up front by the Program Administrator.
- Interest is paid in lieu of a portion of the Mass Save incentive for the qualifying measure.
- Terms up to 7 years.
- Interest rate of prime plus 100 basis points, with a 6.25% floor.
- Value of the interest subsidy must be less than or equal to the value of the qualifying incentive.
Typical steps in the Mass Save Financing for Business loan program
| Customer fills out the applicable Energy Efficiency Application form and indicates interest in 3rd Party Financing to the Program Administrator.
||For customers with 300kw or more of avg. monthly demand, use C&I application forms. For those with less than 300kw of demand, use Direct Install Application. See your utility bill for monthly demand usage.
|Customer receives Pre-Approval Letter for energy efficiency incentive and Loan Authorization form from the Program Administrator.
||These Customer forms are required for Loan approval. See a sample Loan Authorization Form.
|Customer fills out Energy Efficiency Loan Application. (Mass Save or lender specific form)
||You may choose to use the Mass Save Energy Efficiency Loan Application, or your own form. Download the Energy Efficiency Loan Application.
|Customer applies for a Mass Save business loan through a participating lender.
||See a list of participating lenders.
|If approved, lender notifies the Program Administrator. Project begins.
||Loan is issued to the customer for the principal amount to be financed.
|When project is completed, customer notifies Program Administrator and/or Lender.
||Program administrator will need this notification to begin process of approving payment.
|Program Administrators verify completion of the project and confirm with the lender the project passes.
||PA must verify energy efficiency measure was installed properly to issue interest subsidy check.
|After verification, payment for interest subsidy is made to the lender from Program Administrator.
||Interest subsidy check goes to satisfy the net present value of the accumulated interest on the loan. Any additional funds from the incentive payment are issued as a check to the customer.
What you will need
Customers are required provide the following to the lending institution upon their visit:
You can submit a completed Mass Save Energy Efficiency Loan Application or lender specific application form. Download the Energy Efficiency Loan Application.
See a list of participating lenders.
If you have any questions, please contact the Energy Efficiency Program Administrator in the customer's territory for assistance.