Loans designed to make Tennessee businesses more energy-efficient are beginning to do their work even as the organization running the program steps up its applicant recruitment efforts.
Pathway Lending launched the $50 million lending program last year with funding from the state, TVA, the Department of Energy, Middle Tennessee-based Pinnacle Financial Partners, the U.S. Economic Development Organization and Pathway Lending itself.
The program took a hiatus in November after receiving $25 million in loan applications and reopened the application process in January, said Amy Bunton, Pathway Lending senior vice president. Pathway Lending, based in Nashville, operates a number of alternative loan programs, leveraging public and private funds to provide financing to companies that don’t qualify for traditional bank loans.
