development

E.P. waterfront businesses eligible for loans

THE PROGRAM, announced by the East Waterfront District Commission Monday, is designed to encourage business growth and job creation on the waterfront while making businesses there more efficient.
Posted 12/9/11

EAST PROVIDENCE – Businesses in the city’s waterfront district looking to redevelop using environmentally friendly technology could be eligible for low-interest loans of up to $75,000 under a program funded by the U.S. Small Business Administration.

The program, announced by the East Waterfront District Commission Monday, is designed to encourage business growth and job creation on the waterfront while making businesses there more efficient.

Projects eligible for the loans, which have a $10,000 minimum, include:

  • Installing energy-efficient appliances.

  • Installing energy-efficient heating and cooling systems or geothermal systems.

  • Replacing old doors, windows or skylights with newer more efficient ones.

  • Adding new insulation.

  • Adopting wind or solar power systems.

  • Retro-fitting buildings to meet LEED certification.

“The Waterfront Commission was created to transform vacant and underused land and buildings in the Waterfront District to generate new jobs and taxes for the City,” said Waterfront District Commission Vice Chairman William Fazioli. “This loan program will help commercial and industrial businesses to finance improvements to their land or buildings, purchase equipment, and add jobs to the City of East Providence.”

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