Connecticut Green Bank Seeks New Lending Partners to Continue Growth of Successful Smart-E Loan Program
Launched in 2013, Smart-E helps residents improve the energy efficiency, resilience, and safety of their homes through a network of participating lenders and vetted contractors
Hartford, CT (July 23, 2024) – The Connecticut Green Bank today announced that it is seeking lenders interested in joining their Smart-E loan program through an open Request for Qualifications https://www.ctgreenbank.com/wp-content/uploads/2024/07/Request-for-Qualifications-from-Interested-Lenders-to-Participate-in-the-Smart-E-Loan-Program-Final-7-22-2024.pdf. Since 2013, the Smart-E loan has helped nearly 9,000 homeowners complete projects worth more than $170 million that have generated renewable energy, improved the efficiency and comfort of their homes, or removed health and safety hazards. The program is currently expanding to reach more homeowners across Connecticut, especially low-and-moderate income homeowners and communities of color, while increasing the program’s offerings into resilience and potential opportunities created by the Greenhouse Gas Reduction Fund (GGRF).
The Smart-E loan is offered through participating lending partners and a vetted network of local contractors who install the projects. For lenders, the Smart-E loan provides a no-cost way to engage with new and existing customers through a product that has proven to have few delinquencies and charge-offs. The Green Bank supports the program with marketing and technical assistance as well as a loan loss reserve.
“As the program continues to grow and evolve, serving diverse homeowners and contractors across the state, we are excited to add new credit unions, local and regional banks, and other lenders to our existing core group of partners,” said Bert Hunter, Executive Vice President and Chief Investment Officer of the Green Bank.
A virtual information session for lenders will be held on Wednesday, August 7 at 1 pm. Register here: https://events.teams.microsoft.com/event/09c3f060-358f-4aec-b5fd-d37fa4609cca@ef2d6018-42ea-435f-b3be-6c36d579284b
More information can be found at https://www.ctgreenbank.com/wp-content/uploads/2024/07/Request-for-Qualifications-from-Interested-Lenders-to-Participate-in-the-Smart-E-Loan-Program-Final-7-22-2024.pdf
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 30,000 green jobs in the state, while reducing the energy cost burden on over 77,000 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 more than $3 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.
Learn more at www.ctgreenbank.com.