Microloans are a great way for people to fund healthcare expenses, pay for emergency repairs of a vehicle, and a whole host of other financial needs. Microloans are now available for eco-friendly endeavors. The Jewish Free Loan Association (JFLA), which has a more than 100-year history in the micro-lending industry, has launched a new program, the Green Loan Fund.
The Green Loan Fund provides interest-free loans of up to $5,000 to residents and businesses in the Los Angeles area for environmental upgrades. This includes windows, insulation, energy-efficient lighting, and even new energy-efficient appliances. This is a great time to take advantage of an interest-free microloan for an appliance upgrade because of the "cash for appliances" program, the potential Home Star program, and even rebates that may be offered through local utility companies.
The JFL was able to launch the Green Loan Fund after a fundraising event featuring environmental activist Ed Begley Jr. While the event raised enough money to launch the Green Loan Fund, the JFL hopes to raise $3 million in the next year to help grow the fund.
Los Angeles-area residents or business owners who would like to take advantage of this interest-free loan opportunity will need to have an energy audit performed first. “An audit will indicate problems that may, when corrected, reduce energy bills by as much as hundreds of dollars annually, saving significant amounts of money over time. The efficiency of a home or small business’ heating and cooling systems and methods to conserve water and electricity can also be determined during the audit.” Source: JFLA
While the Green Loan Fund is part of the Jewish Free Loan Association, the program is open to people of all faiths who meet the program requirements. For more information on the program, call the JFLA at 323-761-8830.