New Jersey A4805 allows small businesses to qualify for low-interest loans from the Economic Development Authority for energy audits and energy.

New Jersey A4805 establishes a program through which the New Jersey Economic Development Authority, in consultation with the Board of Public Utilities and the Department of Community Affairs, provides low-interest loans to eligible small businesses. These loans cover 100% of unreimbursed costs for energy audits and the purchase and installation of energy efficiency or conservation equipment. The bill defines a "low-interest loan" as a loan with a term not exceeding ten years at an interest rate not exceeding the greater of three percent or one-half of the prime interest rate.

New Jersey A4805 allows small businesses to qualify for low-interest loans from the Economic Development Authority for energy audits and energy.

New Jersey A4805 establishes a program through which the New Jersey Economic Development Authority, in consultation with the Board of Public Utilities and the Department of Community Affairs, provides low-interest loans to eligible small businesses. These loans cover 100% of unreimbursed costs for energy audits and the purchase and installation of energy efficiency or conservation equipment. The bill defines a "low-interest loan" as a loan with a term not exceeding ten years at an interest rate not exceeding the greater of three percent or one-half of the prime interest rate.