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Commission approves funding for Mission Asset Fund to loan small businesses for energy retrofits
Summary
The commission approved a grant to Mission Asset Fund to operate a revolving, 0%-interest microloan program to help small businesses cover co-pays on SF Energy Watch energy-efficiency projects, expanding participation and enabling more retrofits.
Department staff proposed, and the commission approved, a grant to Mission Asset Fund to administer a revolving microloan program for small businesses participating in SF Energy Watch. Rich Chen (Department of the Environment; SEG 3871/25) explained that incentive programs increasingly require small out-of-pocket co-pays as codes tighten; modest loans (often a few hundred to a few thousand dollars) could allow small businesses to proceed with efficiency projects that quickly pay back in energy savings.
Mission Asset Fund’s Kelsey McDonough (SEG 3946/26) described the organization’s history providing 0%-interest social loans and said the program would also help borrowers build credit. Commissioners and the director praised the cross-program solution that connects grant, incentive and lending resources. The commission moved and passed the resolution approving the recommended grant (Resolution file 2016-10-COE).
