Issue link: https://nebusinessmedia.uberflip.com/i/616041
Celebrating 50 Years of Growth, Jobs and Development 17 97.8% 46.3% percentage of employers in MA that are small businesses percentage of small businesses that employ the private sector labor force IMPACT 0 500 1000 1500 2000 2500 1,197 2,299 JOBS CREATED JOBS RETAINED Since 1981... What are the benefits of Going Green with an SBA Green 504 loan? Small businesses have an opportunity to embark on a larger project and/or finance multiple projects at different sites. Businesses can roll energy project costs into the loan, thereby realizing significant savings over the life of the loan. Businesses may also expand, since they are allowed to acquire, build or refinance energy efficient buildings. And "Going Green" typically increases the value of property, while preserving the planet. How do you qualify for an SBA Green 504 loan? Small businesses that reduce energy consumption by 10% or generate 10% renewable energy on site qualify for the loan. Companies that document the use of sustainable design practices (e.g., LEED or similar certifications) may qualify for removal of the job creation goal in addition to the increased loan amount. GOING GREEN Environmental awareness – Going Green – has become a standard element when it comes to new construction and renovation, and with good reason. Buildings account for 40% of carbon dioxide emissions and consume 70% of the electricity in the U.S. As many municipalities seek to lower their carbon footprints, they have begun implementing mandatory requirements for reduced energy consumption. By complying with these regulations, businesses not only create more energy efficient, environmentally-friendly buildings, but they also bring to market buildings that may command higher rents and higher sale prices. Small businesses that commit to "green" projects may be eligible to increase the amount of their SBA 504 loan by up to $5.5 million.