Connecticut Green Bank Launches 10th Green Liberty Notes Offering, Celebrates the Purchase of Over $100M in SBEA Loans
10th offering supports energy efficiency upgrades for small businesses and organizations with investments starting at $100.
Hartford, CT (April 17, 2024) – CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, announced the opening of its 10th offering today. The crowdfunding campaign is in its third year and is made possible with Raise Green, an online marketplace for impact investing. In addition to the next round of Notes, the Connecticut Green Bank and Amalgamated Bank are celebrating the purchase of more than $100M of Small Business Energy Advantage (SBEA) loans, driving environmental benefits and economic growth in local restaurants, town halls, community organizations, and more.
“We’re thrilled to launch yet another round of Green Liberty Notes in time to celebrate Earth Day and empower local residents to support Connecticut’s clean energy transition,” said Bryan Garcia, President and CEO of the Connecticut Green Bank. “This is a significant milestone in our work to bolster small businesses and organizations across the state and improve the local economy. We encourage those looking to join our fight against climate change and make a difference in your community to consider investing.”
Investments made in the Green Liberty offering contribute to Eversource’s SBEA program, enabling small businesses in Connecticut to lower their energy expenses through efficiency enhancements and interest-free loans. Due to the climate benefits associated with the SBEA program, this Green Liberty offering has been reviewed and verified for its environmental attributes by Kestrel. The Green Bank’s partnership with Amalgamated Bank has deployed over $100 million of private capital into the SBEA program.
Notes may be purchased through the Raise Green online platform without a broker, starting with a $100 minimum. The previous Green Liberty offering was the seventh consecutive offer to surpass its maximum limit for raised amount, so interested investors are encouraged to act quickly.
Featuring a low minimum investment, a short one-year term and easy online purchase process, Green Liberty offerings were created to be accessible to nearly anyone who wants to invest. In total, more than $2 million has been raised from Connecticut citizens and buyers from 35 states nationwide. Over 60% of original investments have been $1,000 or less, with more than half of the investors being Connecticut residents.
Investors from the sixth round of Green Liberty Notes (now reaching the end of its term) can reinvest their principal and interest in this latest offering. Anyone who invested in the sixth round and invests in this offering, either by reinvesting their principal and interest or by investing a different amount, will receive an interest rate “boost” as a thank-you for their early support of the Green Liberty Notes.
For more information about this investment opportunity, please visit invest.ctgreenbank.com.
About the Connecticut Green Bank
The Connecticut Green Bank was established by the Connecticut General Assembly in 2011 as the nation’s first state-level green bank and has since supported the creation of more than 27,000 green jobs in the state, while reducing the energy cost burden on over 68,000 families, businesses, and nonprofits. The Green Bank’s vision is a planet protected by the love of humanity and its mission is to confront climate change by increasing and accelerating investment into Connecticut’s green economy to create more resilient, healthier, and equitable communities. This is accomplished by leveraging limited public resources to scale-up and mobilize private capital investment into Connecticut. In 2017, the Connecticut Green Bank received the Innovations in American Government Award from the Harvard Kennedy School Ash Center for Democratic Governance and Innovation for their “Sparking the Green Bank Movement” entry. To date, the Green Bank has mobilized nearly $2.5 billion into the State’s green economy. This has reduced the energy costs for thousands of families and businesses, and reduced greenhouse gas emissions that cause climate change and worsen public health.
For more information about the Connecticut Green Bank, please visit www.ctgreenbank.com.
About Raise Green
Raise Green is the first marketplace in the U.S. for local and inclusive impact investment into climate solutions. On Raise Green’s investor marketplace, anyone (individuals and institutions) can invest in community-focused climate infrastructure and resilience projects across a varied range of project scales and minimum investments. Raise Green gives solar developers the tools to cut soft costs and easily access financing for up to $5M per year. Investors can create quantifiable impacts in local communities, as well as receive financial returns if the project is successful.
For More Information, Contact:
Rudy Sturk (rudy.sturk@ctgreenbank.com)