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Capital Good Fund and Cotuit Solar Join Forces to Increase Affordability of Solar Energy
The DoubleGreen Solar Loan program is already helping Massachusetts homeowners save money
MASSACHUSETTS – Capital Good Fund is excited to offer the Double Green Solar Loan program, thanks to a new partnership with high-quality solar companies like Cotuit Solar, a Massachusetts-based solar installer. Capital Good Fund is a nonprofit, U.S. Treasury-certified Community Development Financial Institution (CDFI) that works to advance a poverty-free, inclusive green economy through equitable loans to lower to moderate-income families for a variety of key needs, including “green” home upgrades; relief due to expenses incurred due to COVID-19; and immigration expenses (citizenship applications, green card renewal, family petitions, etc.).
Capital Good Fund has created the DoubleGreen Solar Loan program to help those who want to put solar panels on their rooftops but may not qualify for a loan through traditional means. The first DoubleGreen Solar Loan closed in December, with the client receiving a $38,000 loan to put toward their installation project. “Capital Good Fund is excited to add a focus on solar offerings to our existing suite of energy-efficiency and other loan products, and to partner with Cotuit Solar,” said Capital Good Fund Founder and CEO Andy Posner. “We strongly believe that one’s FICO score shouldn’t prevent the ability to lower energy bills and participate in the solution to the climate crisis.”
The DoubleGreen Solar Loan serves all families, but with a focus on moderate-to-middle income homeowners and minority communities. Capital Good Fund only partners with top-notch solar installers, including the Cotuit Solar team, which provides honest assessments of the costs and benefits of each solar project, tailored to client needs. Our affordable loans are paid in monthly installments with low interest rates, and, unlike other lenders, there are no dealer fee charges, which can add up to 25% on top of the solar system cost. “We truly appreciate Capital Good Fund’s DoubleGreen Solar Loan program,” said Conrad Geyser, Principal at Cotuit Solar. “It offers an easy, non-secured, fixed rate loan that gives clients financing to adopt solar without a lot of trouble!”
Capital Good Fund is also partnering with additional solar installers to further extend their reach to different communities. To learn more about participating in the DoubleGreen Solar Loan program as either an installer or a borrower, you can visit www.GoodFund.us/Solar or call 1-866-584-3651.
About Cotuit Solar
Cotuit Solar has been in business since 1988 and operates as a vertically integrated company that directly performs all aspects of solar installations in-house; designing, installation and service. Locally owned and operated, the company is renowned in the community for expertise and quality of service. The team is dedicated and practiced in a wide range of renewable energy and sustainability philosophies and disciplines and tries to help clients find multidiscipline ways to lower their resource footprint.
About Capital Good Fund
Capital Good Fund is a Rhode Island-based nonprofit social change organization that uses financial services to tackle poverty in America. Capital Good Fund offers one-on-one Financial and Health Coaching and Loans of up to $60,000 for the lower-income residents of Rhode Island, Texas, Illinois, Florida, Delaware, Massachusetts, and Colorado. Since the COVID-19 crisis began, Capital Good Fund has granted more than 2,500 COVID-19 Crisis Relief Loans of $300 – $1,500 with a five percent APR and a three-month deferment period and put 12 percent of its active borrowers on deferment plans. Since their founding in 2009, they have financed over 8,000 loans totaling $18.4 million with a 95% repayment rate and graduated over 1,700 people from their Coa
