Making Businesses More (Energy) Efficient
We're helping to make even more buildings energy-efficient -- while creating more green jobs and protecting the planet -- with news of our new NOLA Wise expansion. Local New Orleans news channels WDSU, WGNO, WVUE, and WWL joined the City of New Orleans, the Southeast Energy Efficiency Alliance (SEEA), and our NOLA Wise team today for the announcement of our expansion. We'lll now be offering commercial services with the availability of a new loan program designed to help local businesses make energy-saving improvements.
Fidelity Homestead Bank of New Orleans will offer the commercial loan product, which builds on the homeowner lending products currently available to New Orleans residents through NOLA Wise. Together, these programs will present a total energy investment opportunity of $15 million for the community.
As part of Fidelity and SEEA's partnership with NOLA Wise, SEEA has invested $300,000 to serve as a first-line loan loss reserve, which will guarantee up to $3 million in loans. Now New Orleans building owners seeking to make their property more energy-efficient will be able to work with NOLA Wise and Fidelity to secure lending for their projects. The NOLA Wise commercial loans will be available at Fidelity on a first-come, first-served basis to commercial property owners within the NOLA Wise program.