A new low-interest loan program is available to businesses considering equipment or process changes that will have a positive impact on the environment.
Businesses with 100 employees or fewer can borrow up to $50,000 at an annual interest rate of 2 percent for up to seven years. The loans must finance improvements that reduce the use of or reuse raw materials, reduce the production of waste or make a significant reduction in energy consumption. The pay-back period for the improvements must be less than the term of the loan.
Examples of projects that may qualify include the purchase of energy-efficient equipment, reductions in chemical use, closed-loop cooling or process water systems.
The program is administered by the Pennsylvania Department of Environmental Protection and the state Department of Community and Educational Development. Up to $2 million is available annually.
How to Reach: Loan forms are available by calling the Department of Community and Educational Development at (800) 379-7448, at the DEP Web site at www.dep.state.pa.us or at the ENVIROHELP Web site at www.pa-envirohelp.org.
Ray Marano
