Clean Energy Loans up to $150,000 for Small Businesses and Nonprofits
Energy Investments Targetting the Impact of Covid-19
City First Enterprises (CFE) has entered into a partnership with Montgomery County Green Bank (MCGB) to launch the Small Business Energy Savings Support Program, a joint loan product offering flexible, affordable capital to businesses and nonprofits investing in energy efficiency and health-related improvements.
The new loan program in a nutshell:
  • Eligible entities: Small businesses, energy contractors, and nonprofits
  • Loan amount: $10,000 to $150,000
  • Term: Up to 5 years
  • Interest rate: 3% to 5%
  • Flexibility: Interest-only payments for up to 6 months
For the first round of investments, we have capitalized the joint lending pool with $600,000 and expect to fund up to 12 clean energy projects, creating and preserving dozens of jobs and strengthening the resiliency of small businesses and nonprofits across the region.

Stockbridge Condominium Association has received the first loan from the initiative. Led by its residents' financial motivation and environmental concerns, the energy updates from this investment will result in a 380% reduction in common energy expenses, directly impacting the living conditions of more than 280 families in the Silver Spring, MD community.

To learn more about the program, including how to apply, please visit the initiative's web page.
Under a pro bono assignment, a team of attorneys from Kirkland & Ellis LLP provided legal counsel and represented CFE throughout the structuring of the partnership.

Along with our recently launched partnership with DC Green Bank, this venture reaffirms City First's resolve to advance the financial benefits of emerging clean energy technologies to working families and small businesses across the region.
Capital for a More Inclusive Economy