NYGB’s mission includes filling clean energy financing gaps for economically viable projects and business models where private capital is unavailable. The COVID-19 crisis has exacerbated financing market gaps; less capital is expected to be available for many clean energy projects and business models, resulting in even greater dependence by market participants on NYGB financing than before the COVID-19 crisis.
NY Green Bank, a division of the New York State Energy Research and Development Authority, earmarked $50 million in capital, applied to the SBA, and was approved as a PPP lender to provide PPP loans to small businesses and other eligible borrowers in the clean energy industry of New York State.
