Indiana’s New Green Bank Launches Commercial Financing for Hoosier Businesses
The Indiana Energy Independence Fund, the state’s new nonprofit green bank, recently announced the launch of its commercial lending product to help Hoosier small businesses, nonprofits, and government customers especially those underserved by current financing options, to lower their energy costs by embracing clean energy and energy efficiency.
“We are pleased to launch Indiana’s new green bank, and we are excited to introduce this new financing option to enable organizations across the Hoosier state to adopt energy efficiency and renewable energy measures and help them save money and make our state a healthier, more efficient place to live and work,” said Alex Crowley, the fund’s executive director.
Green banks are mission-driven institutions that use innovative, low-cost financing to accelerate the transition to clean energy, especially for underserved populations. The Indiana Energy Independence Fund has three goals:
Accelerating adoption of energy efficiency and cleaner energy technologies by focusing on providing capital to individuals and organizations historically excluded from such opportunities
Identifying and addressing gaps in the marketplace to support the transition to a more economically and environmentally sustainable future for people who disproportionately bear the burden of higher energy costs
Leveraging local, state, federal, and philanthropic funding to support investments in workforce development to stimulate the growth of green jobs in Indiana.
