Todd Meyer, principal of Energy Wise America, has done thousands of commercial lighting upgrades since launching his business in 2008. He’s observed that finding financing for energy efficiency upgrades can be tough; many banks don’t see energy financing as a viable line of business and are skeptical of lending for that purpose. So Meyer appreciates that GoGreen Business brings knowledgeable, responsive lenders to the table together with the credibility imparted by the State of California’s involvement.
“Having lenders who understand energy efficiency and say, ‘We get you’ is a huge step,” says Meyer. “And then on the customer side, being able to say the State Treasurer’s Office is actively involved in coordinating lenders for this purpose, it’s a big warm fuzzy. I’ve never had anybody question it.”
Meyer used to use the utility On-Bill Financing program, with its attractive 0% financing, but grew tired of the paperwork and hassle. He says he’s successfully used GoGreen Business to offer 0% financing to his customers by working with GoGreen lenders to buy down interest rates on his own. It means him paying up front for the interest the lender would have earned, and then presenting the customer with the gift of no-interest financing. Meyer looks at it as a discount benefitting the customer that is well worth the cost to himself.
“Zero percent interest is incredibly enticing when somebody is looking at financing,” he says. “It helps close the project. So that has been extremely helpful as well.”
Lastly, Meyer says he appreciates the service he has received from GoGreen Business staff, whom he describes as “responsive and polite and thoughtful.”
“Responsiveness and straightforwardness may not seem like a lot on the surface, but at the end of the day, it means a lot,” he says.
Interested in chatting with a GoGreen Business staffer about how to buy down interest rates and enroll in GoGreen Business? Write to them at ggb@treasurer.ca.gov.