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Mayor Nutter Announces Greenworks Loan Fund

On January 27, Mayor Nutter was joined in West Philadelphia by Councilwoman Jannie Blackwell, Deputy Mayor Alan Greenberger, Jeremy Nowak President of The Reinvestment Fund, and Peter Longstreth President of PIDC to announce that $9.5 million will be available to small businesses in Philadelphia to improve the energy efficiency of their buildings and equipment.

The Mayor announced two sources of green funding for small businesses: $9 million in Greenworks Loans available in amounts from $100,000 to $1 million, and $500,000 in Greenworks Rebates available in amounts up to $10,000. The funding is a blend of Recovery funds from the Energy Efficiency and Conservation Block Grant and private capital from The Reinvestment Fund.

“The Greenworks Loan Fund merges the City’s Recovery Act resources and vision with TRF’s private capital and energy investing experience to spur clean energy development,” said Jeremy Nowak. “Together, we will quickly deploy loans that integrate sustainable energy best practices in quality projects and put Philadelphians back to work.”

Applications for both Greenworks Loans and Greenworks Rebates are available now through the City’s Business Services Portal at www.phila.gov¬†and at PIDC’s website at http://www.pidc-pa.org/DevelopmentOpportunities.asp.

Article source: Greenworks Philadelphia Exchange a newsletter from the Mayor’s Office of Sustainability, January 2010.

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