The Michigan Saves Loan Process for Buisiness
Michigan businesses are looking for cost-effective financing options to improve energy efficiency. While interest rates are expected to slide throughout 2024, state agencies offer immediate solutions to make the critical capital investments that help organizations thrive. Michigan Saves is the first nonprofit environmentally focused bank and an excellent source of commercial building finance options.
Michigan Saves’s Mission
Michigan Saves is a nonprofit that provides equitable access to green investment funds for commercial and residential development. The organization supports energy efficiency, renewable energy, diversification, and carbon reduction projects in Michigan, emphasizing equity and impact.
Keen Technical Solutions has been a registered Michigan Saves contractor for years, working with business owners across the state to make energy and environmentally sound improvements that strengthen communities and create lasting change.
How Michigan Saves Works
Michigan Saves loans are available to cover qualifying improvements that improve commercial energy efficiency. This includes several upgrades, including:
Commercial appliance upgrades
Roofing upgrades
And more
The Michigan Saves Application Process
The program is an excellent example of Michigan companies collaborating for a brighter future. Here’s how the process works:
To get started, business leaders work with a Michigan Saves contractor like Keen to create a detailed estimate of the proposed work. This often includes an in-depth energy audit and facility inspection.
Next, businesses select a commercial lending partner. These banks, many headquartered in Michigan, work within the Michigan Saves framework to offer competitive lending rates from First Independent Bank, Inclusive Prosperity Capital, Team Financial Group, and the National Energy Improvement Fund (NEIF). Additional rebates and financing options are also available through leading Michigan utility companies like Consumers Energy, DTE, and SemcoEnergy.
Once approved, contractors get to work! Keen has developed a proven process to deliver fast, quality results while meeting project timelines and budgetary expectations. We provide consistent communication before, during, and after the project, including on-site technology training to empower facility managers to maximize the impact of new systems.
Ready to Apply for a Michigan Saves Loan? We Can Help!
Keen’s energy consultants have deep experience helping business owners maximize the return on investment for sustainable improvements. Count on the Keen team to identify the most impactful ways to lower energy costs and present all of your financing options to lower upfront expenses. We’re ready to help; contact a Keen Technical Solutions representative or call (231) 421-3175 today to get started.