In August, the $50m program was launched to help Tennessee companies finance investments in energy efficient technology, energy retrofits and renewable energy systems to reduce operating costs and spur growth.
The first application round closed earlier this month and the company will open a second round in January 2011.
The loan program is a collaborative effort between the state of Tennessee, the Tennessee Valley Authority, Pinnacle Financial partners, the US Department of Energy, the US Economic Development Administration and Pathway Lending.
Through the program, Pathway Lending said it offers loans at below-market rates, with terms extending to 10 years.
Loans can finance up to 100% of costs on projects including building retrofits, equipment replacements or upgrades, lighting and renewable generation.
The loans are designed to be repaid with the energy costs savings derived from each project, the company said.
