RHODE ISLAND: Capital Good Fund: DoubleGreen Loan

Capital Good Fund: DoubleGreen Loan

Providence, RI

The DoubleGreen Solar Loan program aimed at helping those who want to put solar panels on their rooftops but may not qualify for a loan through traditional means. Capital Good Fund is a nonprofit, U.S. Treasury-certified Community Development Financial Institution 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.

Most recently, Capital Good Fund closed a loan through this program for a lower-income area resident in Rhode Island to install an 8-kilowatt solar system through Get Sun Go Solar, making them one of the first solar panel owners in their community. “I decided I wanted to own my solar panels for many reasons. It is cheaper than my electric bill, the tax credits are great and it is good for the environment. As a mother, I want to protect my children’s future, financially and environmentally. By giving me this loan, Capital Good Fund has made it possible for me to realize this dream,” said client María Hidalgo. “I hope to see more solar around me and I also hope others who choose solar are as lucky as me to work with a community-oriented lender like Capital Good Fund.” The first DoubleGreen Solar Loan closed in December, with the client receiving a $38,000 loan to put toward their installation project.