The Small Business Administration (SBA) helps small businesses in many ways. There are probably quite a few you aren’t aware of. One special program that has received additional funding under the Obama administration is their program to help green businesses. We’ll be discussing the reasons behind this, in today’s article.
Politics aside, there seems to be a real need to increase the efficiency and emission profile of many of our industries. Some companies are better at doing this than others. The goal of the SBA programs that help green businesses is to assist those companies that have gone further than their peers in their attempts to be carbon neutral, as well as other objectives.
What qualifies your business for these programs? It depends on what you are trying to accomplish. If you are trying to green up your electricity supply by producing power on site through wind generation and solar, you may qualify for a green equipment loan. You’ll also save a great deal in tax credit. With the right system in place, you may also save money, as compared to the cost of your KW usage prior to your new system being installed.
The rest of the program is applied specifically to those who deal with green energy directly. This would include the manufacture, production, assembly, and sales of renewable energy products. For example, if your company makes wind turbines or solar panels, you may qualify for low-interest funding, under these SBA loan programs, for your future ventures. Contact your local Small Business Administration office for further details.