Loan Loss Reserve to Catalyze Clean Energy Financing in NYS Communities

The New York State Energy Research and Development Authority (NYSERDA) requests applications from entities for Loan Loss Reserve/Credit Enhancement support for financing products which support clean energy improvements in residential (1-4 unit) dwellings, small commercial (100 employees or less), not-for-profit and multifamily (5+ unit) buildings (Eligible Properties) located in New York State Communities. The Loan Loss Reserve will provide reimbursement for defined losses on individual transactions. Initial awards to qualified applicants will be based on the targeted sectors, including the building sector and clean transportation sector as proposed by the applicant. Applicants need to apply separately for each proposed Sector. Maximum initial awards are as follows: Residential (1-4 unit) Sector: One million dollars ($1,000,000); Small Commercial Sector: One Million Dollars ($1,000,000); Multifamily (5+ unit) Sector: One million dollars ($1,000,000); Not-for-Profit Sector: Five hundred thousand dollars ($500,000); Clean Transportation: Support for Electric Vehicles including School Bus, Medium and Heavy-Duty Truck TRAC Leasing support: One million dollars ($1,000,000). This program provides credit enhancement for clean energy financing products supporting eligible properties in New York State.