New England non-profit lending agency now offers low-income solar financing
Capital Good Fund partners with New England-based solar installers, including Cotuit Solar and Got Sun Go Solar, to create the DoubleGreen Solar Loan Program to help low-income people in Massachusetts and Rhode Island who want to install solar panels on their roofs, but may not qualify for a loan through traditional means. Capital Good Fund is a nonprofit, U.S. Treasury-certified community development financial institution that strives to advance an inclusive, poverty-free green economy through equitable lending to low- to middle-income families for a variety of key needs, including “green” home upgrades. ; relief due to expenses incurred due to COVID-19; and immigration fees.
“In an era of rising energy prices and geopolitical instability, it is more important than ever that all families have access to affordable, reliable and locally produced clean energy. A person’s FICO score shouldn’t stop them from being able to lower their energy bills and be part of the solution to the climate crisis,” said Andy Posner, Founder and CEO of Capital Good Fund. “We are proud to add solar offerings to our existing line of energy efficiency and general consumer ready products, and to partner with Cotuit Solar, Got Sun Go Solar and other customer-focused installers.” The DoubleGreen Solar Loan is for all families, with a focus on low, middle and middle income minority homeowners and communities. Affordable loans are available for residents of Massachusetts and Rhode Island. They are paid in monthly installments over 25 years with low interest rates starting at just 3.1% APR.
The first DoubleGreen Solar loan closed in December, with the customer receiving a loan of $38,000 to spend on their installation project.
Capital Good Fund is grateful for the support of its installation partners.
“We really appreciate Capital Good Fund’s DoubleGreen Solar Loan Program,” said Conrad Geyser, Principal at Cotuit Solar. “It offers an easy, unsecured, fixed-rate loan that provides customers with financing to adopt solar without too much hassle!”
Capital Good Fund also collaborates with other solar installers to extend its reach to different communities.
To learn more about participating in the DoubleGreen Solar Loan Program as an installer or borrower, you can visit www.GoodFund.us/Solar or call 1-866-584-3651.
Capital Good Fund News Article