Companion Loans
To: Contractors and Stakeholders
Regarding Programs: GJGNY Residential Financing Program
Summary: Companion Loans
Contact: Residential.financing@nyserda.ny.gov
In 2021, NYSERDA launched the Companion Loan which was available to Green Jobs – Green New York (GJGNY) financing customers who are fully utilizing the $25,000 GJGNY Loan for their energy efficiency or renewable energy project and need additional loan funding to pay for remaining project costs.
The funding for Companion Loans has almost been fully committed. While NYSERDA assesses available funding sources for the Companion Loans, effective immediately, NYSERDA is pausing the acceptance of any new applications for Companion Loans until further notice. However, all applications for Companion Loans which have been pre-approved or approved by Slipstream as of May 10, 2023 will be eligible for funding. Projects for which the Companion Loan may be required, but has not yet been applied for, will not be eligible. However, if you would like to tell NYSERDA about projects that were sold as of May 10, 2023 that expected a Companion Loan, but were not yet submitted for approval, please complete this form by Wednesday, May 31. NYSERDA will review to determine if assistance may be available.
If you have any questions about these changes, please reach out to residential.financing@nyserda.ny.gov, or contact Heather Clark, 518-862-1090 Ext. 3253.
Thank you for your continued support and cooperation in making GJGNY Residential Financing Program a success.
Sincerely,
The Residential Financing Team