RACINE, Wis. – Educators Credit Union here has joined a local initiative aimed at spurring energy savings projects by small business.
ECU has joined the city of Racine as the lending partner in the program, which is known as Racine Energy Efficiency, or Re2. Announced earlier this year, that program seeks to offer competitive loans as well as cash incentives to small businesses for energy-efficiency projects.
Re2 has been provided with $1 million in federal funding to offer cash incentives to businesses that achieve 15% or more in energy savings on a project. ECU said it will offer loans ranging from $5,000 to $20,000 toward both new construction and existing structures.