Willamette Week
April 29, 2009
By SHAWN O'BRYANT
As banks nationwide struggle with the financial crisis, Oregon-based Umpqua Bank has created a new eco-banking division to promote energy conservation and renewable-energy projects.
Last year, the Energy Trust of Oregon, an independent nonprofit, provided almost $41 million in cash incentives and technical assistance to Oregon businesses and households for 60,000-plus energy-efficiency and renewable-energy projects.
But that money often doesn’t fully cover a property owner’s costs for projects such as replacing single-pane windows or setting up alternative energy systems.
Umpqua — which is WW’s bank — announced recently it is hoping to fill whatever financial deficits remain for homeowners with renewable-centric, low-interest loans of as much as $50,000, or $100,000 for small-business owners.