Enterprise Energy Fund expands to $6.6 million

Governor John Lynch and the Executive Council have approved the addition of $3.1 million to the Enterprise Energy Fund (EEF), a revolving loan pool for businesses to finance energy improvements and renewable energy projects. The additional money will bring the fund total to $6.6 million. All of the funds are part of New Hampshire’s stimulus grant from the U.S. Department of Energy to the NH Office of Energy and Planning.

EEF is managed by the New Hampshire Community Development Finance Authority and the New Hampshire Community Loan Fund. Established in December of 2009, EEF has already approved or is in the process of approving $2.7 million in funds to conduct energy audits and finance energy retrofits.

“Since launching, we’ve had several dozen businesses and nonprofit groups approach us with projects that – in today’s lending climate – might not qualify for conventional financing,” said Alice Veenstra of the Community Development Finance Authority. “Now these organizations are able to do things like install solar hot water or energy efficient lighting for their facilities.”

“Many small businesses in New Hampshire have the potential to reduce their operating costs immediately by investing in energy efficiency. We encourage applications from enterprises spending more than $1 per square foot on energy,” said Rick Minard of the Community Loan Fund.

Loans from the original $3.5 million have been committed to a variety of projects, including in Concord, Tilton, Manchester, Littleton, Loudon,  Hinsdale and Milford.