SmallBusinessNewz

Everyone knows that "going green" can save money - think electricity bills, heating costs, and so on.  Now, the Small Business Administration is looking to extend that trend by adding three public policy goals to its SBA 504 Loan Program.

A press release explains, "SBA 504 loans provide a source of long term capital with typically only a 10% down payment from the small business borrower.  The rest of the financing is arranged by a Certified Development Company (CDC) securing an SBA 504 loan for up to 40% of the project costs and a lender providing the remaining 50% of the project funding."  And the normal loan ceiling is $1.5 million.

Small businesses that make over existing facilities or purchase or build new ones to decrease energy consumption by 10 percent can receive $4 million in SBA financing instead.  Companies that generate renewable energy are eligible to get the same.  Or a business can go for $2 million by working with Leadership in Energy and Environmental Design standards and the Green Building Certificate Institute to incorporate sustainable design.

All of these ideas may still sound a little pricey, of course, and the SBA might be trying to accomplish three things, instead of two, at once: help small businesses, save the environment, and then give the overall economy a big boost.

But if you were planning renovations or a move, anyhow, the SBA loan makeover may come in handy.