BEZ / BIEE
Bronx Overall Economic Development Corporation (BOEDC)
The Bronx overall Economic Development Corporation (BOEDC) and The Bronx Borough
President’s Office established the Bronx Initiative for Energy and the Environment (BIEE),
with the goal of demonstrating pathways to a more efficient and greener Bronx.
The Bronx Empowerment Zone Environmental Revolving Loan Fund is designed to promote the use of energy efficient and environmental technologies in the Bronx Empowerment Zone (BEZ).
Eligible Companies
For profit entities, which includes service, retail and manufacturing businesses operating in
the BEZ; non-profit organizations located in the BEZ; and housing corporations developing
or operating housing in the BEZ.
Eligible Uses
Implementation of energy-efficient measures, including
- Electric/alternative fuel machinery and equipment
- Boiler retrofit
New technology to reduce air pollution and/or cause energy savings
- Green roofs and other greening measures
- Hybrid or Electric Vehicles
- Solar technology
- Wind Technology
- Customized energy surveys
Loan Amounts
Minimum $10,000
Maximum $100,000
Term of Loan
Up to 7 years, contingent upon amount of loan
Rate of Loan
0%
Origination Fee
2% of loan amount.
Business Owner’s Equity Participation
10% for existing businesses; 25% for start-ups
Underlying Criteria
Liens on equipment and machinery; lease assignments; and other corporate guarantees
Collateral
Will vary depending upon project
Guarantees
Principals, Corporations, etc.
Fees
Application fee: $250 (non-refundable)