For every eligible project seeking financing from Camden POWER Commercial, a free energy assessment will be performed and a scope of work developed by Hutchinson Mechanical Services. Based on the scope of work and resulting project budget, qualified business and commercial property owners may be eligible for the following program benefits.
- Up to $50,000 in energy-efficient upgrade incentives from New Jersey’s Clean Energy Program’s Direct Install program.
- Up to $25,000 in façade improvement grants from the Camden Urban Enterprise Zone.
- Low-interest Camden POWER Commercial loans provided by New Jersey Community Capital (NJCC). Camden POWER Commercial loans are priced at fixed rates between 4.0% and 5.0% with loan terms of five to seven years and can be combined with other NJCC project financing.
Subject to lender’s final approval and commitment, we estimate that eligible business and commercial property owners may be responsible for the following expenses. Some of these expenses may be eligible for funding from loan proceeds.
- A $550 loan application fee due at loan closing (covers credit check, title, and judgment searches).
- Commitment fee equal to up to 1.0% of the total loan amount or $500, collected at loan closing.
- Professional fees related to loan underwriting and origination, including fees for lender’s attorney closing costs and loan document preparation.