• About Us ᐯ
    • About Us
    • Mission, Vision, and Values
    • Green Bank Team
    • Governance
    • Careers
    • Our History
    • Our Heroes
    • Former Green Bank Stars
    • Requests for Proposals
    • News
    • Events
  • Strategy + Impact ᐯ
    • Strategy + Impact
    • Planning
    • Reporting and Transparency
    • Evaluations
    • Societal Impact
    • Mapping Analysis of Your Area (MAYA) Tool
    • Legacy Programs
    • Investment Strategy
  • Contact Us
  • Search
CT Green Bank | Accelerating Green Energy Adoption in CT
  • Solutions
    • Solutions
      • Connecticut Green Bank offers green energy solutions to home, building and multifamily property owners, residential and commercial contractors, towns and cities, and even capital providers.
      • Home Solutions
        • Smart-E Loans
        • Energy Storage Solutions
        • Residential Solar Options
      • Building Solutions
        • C-PACE
        • GreenGain
        • Solar MAP+
        • Solar Programs
        • Solar PPA
        • Solar Roof Lease
        • Multifamily Financing
        • Energy Storage Solutions
      • Investment Solutions
        • Green Liberty Notes & Bonds
        • Electric School Bus Financing
        • EV Charging Carbon Credits
        • Green Bank Capital Solutions
        • Become a C-PACE Capital Provider
      • Contractor Solutions
        • Building Solutions
        • Home Solutions
        • Investment Solutions
      • Community Solutions
        • Green Schools
        • Solar Solutions for Communities
        • Energy Storage Solutions
        • Home, Building, and Investment Solutions
        • C-PACE
        • Sustainable CT
  • Offerings
    • Offerings
      •  
      • Clean Transportation
      • Energy Efficiency
      • Environmental Infrastructure
      • Green Schools
      • Resilience & Climate Adaptation
      • Solar & Renewables
  • Customer Stories
  • Resources
  • Menu Menu
  • Solutions
    • Home Solutions
      • Smart-E Loans
      • Energy Storage Solutions
      • Residential Solar Options
    • Building Solutions
      • C-PACE
      • GreenGain
      • Solar MAP+
      • Solar Programs
      • Solar PPA
      • Solar Roof Lease
      • Multifamily Financing
      • Energy Storage Solutions
    • Investment Solutions
      • Green Liberty Notes & Bonds
      • Electric School Bus Financing
      • EV Charging Carbon Credits
      • Green Bank Capital Solutions
      • Become a C-PACE Capital Providers
    • Contractor Solutions
      • Building Solutions
      • Home Solutions
      • Investment Solutions
    • Community Solutions
      • Electric School Bus Financing
      • Solar Solutions for Communities
      • Energy Storage Solutions
      • Home, Building, and Investment Solutions
      • C-PACE
      • Sustainable CT
  • Offerings
    • Energy Efficiency Offerings
    • Solar & Renewable Offerings
    • Resilience & Climate Adaptation Offerings
    • Clean Transportation Offerings
      • Electric School Bus Financing
    • Environmental Infrastructure Offerings
  • Customer Stories
  • Resources
  • About Us
    • Mission, Vision, and Values
    • Our History
    • Green Bank Team
    • Governance
    • Careers
    • Our History
    • Our Heroes
    • Former Green Bank Stars
    • Request for Proposals
    • News
    • Events
  • Strategy + Impact
    • Strategy + Impact
    • Planning
    • Reporting and Transparency
    • Evaluations
    • Societal Impact
    • Mapping Analysis of Your Area (MAYA) Tool
    • Legacy Programs
    • Investment Strategy
  • Contact Us
You are here: Home1 / News2 / Smart-E Lenders Eligible to Support the Paycheck Protection Program “Step-Up” for...

News & Press

News & Press

April 13, 2020

Smart-E Lenders Eligible to Support the Paycheck Protection Program “Step-Up” for Connecticut’s Clean Energy Industry

CorePlus Credit Union, Ion Bank, Nutmeg State Financial Credit Union, and Union Savings Bank are available to help local clean energy contractors access federal aid

Rocky Hill, CT (April 13, 2020) – The Connecticut Green Bank, working in collaboration with local community banks and credit unions, is helping connect small businesses to lenders supporting the state’s clean energy industry to access federal assistance programs during the COVID-19 pandemic. Last week, the Office of Governor Ned Lamont, the Connecticut Green Bank, the Department of Energy and Environmental Protection (DEEP), the Department of Economic and Community Development (DECD), Eversource, and Avangrid wrapped up a series of informational webinars for small businesses in the clean energy industry on state and federal aid, including unemployment insurance and the CARES Act’s Paycheck Protection Program

“Connecticut’s clean energy industry, which has taken decades to build, is suffering the negative impacts of this pandemic,” said Vicki Hackett, Deputy Commissioner of DEEP.  “It’s critical that we act swiftly to help our small businesses and workforce in the clean energy industry understand and access state and federal relief so that, as the current crisis subsides, they are ready and able to contribute to Connecticut’s economic recovery.”

On Friday, March 27, Congress passed, and the President signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a $2 trillion emergency stimulus bill to address the economy-wide impacts of COVID-19.  Included in the CARES Act is $349 billion to help small businesses stay open and provide direct incentive for them to keep their workers on the payroll through the Paycheck Protection Program (PPP).

“In order to continue our outreach, and to provide further assistance to Connecticut’s clean energy businesses, we approached our local community banks and credit unions that support the Smart-E Loan program,” stated Bryan Garcia, President and CEO of the Connecticut Green Bank. “A few of the Smart-E Loan program lenders are also lenders supporting the CARES Act, which is great because they can provide direct assistance for those small businesses that may or may not have a direct relationship with a financial institution that is eligible to lend under the Paycheck Protection Program.”

Although the PPP is a large federal emergency assistance program to help small businesses manage through the COVID-19 pandemic, Connecticut businesses are encouraged to act now to secure access to these funds. “Connecticut’s businesses should, if they haven’t done so already, look into the Paycheck Protection Program, as a way to help them manage through this crisis,” says Jorge Perez, Commissioner of the Connecticut Department of Banking  “Our local community banks and credit unions are here to assist you.”

The following Smart-E Loan program lenders are supporting applications to the Paycheck Protection Program:

Supporting existing and new clients:

  • CorePlus Credit Union
  • Ion Bank
  • Nutmeg State Financial Credit Union

Supporting existing clients only:

  • Union Savings Bank

“We are working hard to help the community during this unprecedented time. Our ability to lend through the SBA and offer assistance with the Paycheck Protection Program have been really valuable to businesses in the community,” said Nutmeg Credit Union CEO John Holt.

Administered by the Green Bank in partnership with nine local lenders (community banks, credit unions and a community development financial institution), the Smart-E Loan offers long-term, low-cost financing for more than 40 qualifying energy improvements. A network of over 500 eligible local contractors completes these upgrades, including insulation, windows, efficient heating and cooling, electric vehicle home charging stations, and solar systems.

PostedinNews

Hartford Office
75 Charter Oak Avenue
Suite 1-103
Hartford, CT 06106

Stamford Office
700 Canal Street
5th Floor
Stamford, CT 06902

Home Solutions
Smart-E Loans
Energy Storage Solutions
Residential Solar Options

Building Solutions
C-PACE
Solar Programs
Solar PPA
Solar Roof Lease
Multifamily Financing
Energy Storage Solutions

Contractor Solutions
Building Solutions
Home Solutions
Investment Solutions
Contractor Announcements

Community Solutions
Solar Solutions for Communities
Energy Storage Solutions
Home, Building, and Investment Solutions
C-PACE
Sustainable CT

Investment Solutions
Green Liberty Notes & Bonds
EV Charging Carbon Credits
Green Bank Capital Solutions
Become a C-PACE Capital Provider

Customer Stories

Contact Us

FacebookTwitterLinkedInInstagram

Sign up for our newsletter

© 2023 CT Green Bank. All Rights Reserved.

  • About Us
  • Strategy + Impact
  • Privacy Policy

Link to: Connecticut Green Bank wins two awards from Environmental Finance for green bond issuance Link to: Connecticut Green Bank wins two awards from Environmental Finance for green bond issuance Connecticut Green Bank wins two awards from Environmental Finance for green... Link to: Connecticut Green Bank expands clean energy investment with Green Liberty Bond (podcast) Link to: Connecticut Green Bank expands clean energy investment with Green Liberty Bond (podcast) Connecticut Green Bank expands clean energy investment with Green Liberty Bond...
Scroll to top Scroll to top Scroll to top