Connecticut Green Bank Seeks New Lending Partners to Continue Growth of Successful Smart-E Loan Program
Launched in 2013, Smart-E helps residents improve the energy efficiency, resilience, and safety of their homes through a network of participating lenders and vetted contractors
Hartford, CT (July 22, 2024) – The Connecticut Green Bank today announced that it is seeking lenders interested in joining their Smart-E loan program through an open Request for Qualifications. Since 2013, the Smart-E loan has helped nearly 9,000 homeowners complete projects worth more than $170 million that have generated renewable energy, improved the efficiency and comfort of their homes, or removed health and safety hazards. The program is currently expanding to reach more homeowners across Connecticut, especially low-and-moderate income homeowners and communities of color, while increasing the program’s offerings into resilience and potential opportunities created by the Greenhouse Gas Reduction Fund (GGRF).
The Smart-E loan is offered through participating lending partners and a vetted network of local contractors who install the projects. For lenders, the Smart-E loan provides a no-cost way to engage with new and existing customers through a product that has proven to have few delinquencies and charge-offs. The Green Bank supports the program with marketing and technical assistance as well as a loan loss reserve.
“As the program continues to grow and evolve, serving diverse homeowners and contractors across the state, we are excited to add new credit unions, local and regional banks, and other lenders to our existing core group of partners,” said Bert Hunter, Executive Vice President and Chief Investment Officer of the Green Bank.
A virtual information session for lenders will be held on Wednesday, August 7 at 1 pm. Register here.
