As the world becomes a smarter, more environmentally conscious place, there are plenty of opportunities for individuals and business owners to minimize our footprint and help ensure a healthy planet for our children. Investing in energy efficiency can also save you money in the long term , so it’s a win-win situation.
That’s why Team Financial Group encourages businesses to apply for loans for energy efficiency improvements. We’ve also partnered with local nonprofit organization Michigan Saves to help Michigan businesses finance their energy efficiency projects.
The process is simple and can cover many potential updates, from LED lighting systems to HVAC systems and equipment. Please keep reading to learn more about loans for energy efficiency improvements and how you can work with a financing partner like Team Financial Group to get approved quickly.
What Energy Efficiency Improvements Are Available?
In Michigan, there are plenty of options when it comes to commercial energy efficiency. From demand control ventilation to lighting occupancy sensors to green roofing, there’s almost nothing you can’t make more environmentally-friendly — and more cost-efficient and effective.
By seeking out competitive financing from trusted lenders, you can overcome some of the most common barriers to improved energy efficiency, such as:
- Budget conflicts or constraints
- High minimum rate of return
- Financing term misalignments
- Limited subject matter expertise
- Leasing restraints
- Concerns about increasing debt
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Are Energy Efficiency Loans or Leasing Right for Your Business?
There are a few things you’ll want to consider when exploring potential financing for commercial energy efficiency improvements.
- Your Priorities: Some companies and business owners might prefer to invest in areas with higher rates of return. Since many financing options come with little-to-no upfront costs, energy efficiency is often a low-risk/high-reward investment.
- Whether You Lease Space: In shared properties, owners and tenants often do not see eye-to-eye when it comes to energy efficiency due to split incentivization. Owners don’t want to host projects where tenants reap the savings; tenants don’t want to implement changes when they don’t own the property. Thankfully, new financing options are emerging to help overcome this obstacle.
- The Property’s Size: If your building is larger, financing may be more of a necessity. Improvements in smaller buildings sometimes require a lower capital investment, making them easier to pay for than more extensive projects.
- Financial Incentives: In many cases, companies looking to improve their energy efficiency might be eligible for certain tax credits, rebates, or other incentives that can help minimize the cost of their project(s).
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How to Get a Quote for Qualifying Commercial Energy Improvements
To apply for commercial energy efficiency financing, simply complete our secure, online form. From there, we will begin a pre-approval process by evaluating your business’ financial history, including your income and any existing debt. However, unlike banks, our financing team doesn’t use inflexible standards; we look at the full picture, not just a few metrics when evaluating your eligibility.
At the same time, we’ll ask you questions and learn about your business’ needs and the energy efficiency improvements you want to finance. Based on all this information, we’ll craft a customized financing solution for you. Depending on your business’ unique goals, it might involve a loan, lease, or equipment finance agreement.
Because we’re not a bank, our equipment leasing and energy efficiency financing processes are streamlined, fast, and flexible.
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Contact Team Financial Group for All Your Commercial Financing Needs
At Team Financial Group, we offer custom leasing and financing options that meet your unique business needs. We are committed to your sustained success and are eager to help your organization thrive through flexible financing and personalized service.
Interested in learning more about how Team Financial Group can help you apply for and receive lucrative energy efficiency financing to accelerate your company’s growth? Simply call (616) 735-2393 today or complete this brief form to speak with one of our commercial financing experts!