Press Release
FOR IMMEDIATE RELEASE
Non-Profit Green Bank Surpasses $50 Million in Loans for Sustainable Home Improvements
Milestone Highlights Commitment to Low- and Moderate-Income Homeowners
[Fort Pierce, Fla.] – The nonprofit Solar and Energy Loan Fund (SELF), America’s first hybrid green bank and Community Development Financial Institution (CDFI), today announced it has surpassed $50 million in projects financed, with 72% of the loans benefiting low- and moderate-income (LMI) homeowners. SELF’s mission is to expand access to affordable financing for sustainable home improvements, ensuring all families can benefit from energy efficiency, storm resilience, and cost-effective clean energy alternatives (e.g., solar). SELF has also developed new programs for landlords, small developers, water and sewer infrastructure, and disabled people.
Founded in 2010, SELF has grown from serving St. Lucie County, Florida, to now operating in 11 states and the District of Columbia. SELF’s inclusive green financing model has helped more than 10,000 people so far with energy-efficient air conditioners, heat pumps, new roofs and repairs, solar panels, battery storage systems, weatherization, and other sustainable home upgrades.
SELF also works with pre-screened contractors by eliminating dealer fees and partners with local governments, faith-based organizations, banks, foundations, and other green banks and CDFIs across the country to help raise and prudently deploy low-cost loans to help LMI homeowners fix and upgrade existing affordable housing. SELF’s number one cohort is seniors on fixed incomes, followed by female heads of household, veterans, and disabled homeowners.
“These projects make homes safer and more storm-resilient while lowering residents’ utility bills,” said Duanne Andrade, CEO of SELF. “Reaching the $50 million mark is a testament to the power of inclusive financing and the growing demand for sustainable home improvements. We are incredibly proud of the impact we’ve made in helping families create safer, healthier, and more energy-efficient homes. This milestone fuels our commitment to continue expanding our reach and empowering communities nationwide.”
SELF’s impact has accelerated in recent years. After 13 years of operation, it reached $30 million in loans deployed in 2023. Just two years later, it has surpassed $50 million, driven in part by its commitment to partnering with emerging green lenders across the U.S. SELF’s innovative Plug and Play program provides new green lenders with the tools and resources to launch their own sustainable home loan programs, expanding access to financing and advancing sustainable home improvements nationwide.
“SELF’s Plug and Play platform is a game-changer for the green lending industry,” said Doug Coward, SELF’s Founder and Director of National Expansion. “Our fintech platform, loan capital, and 15 years of experience, empower our green bank and CDFI partners to advance green financial inclusion in other states and communities and create triple bottom line impacts and a more sustainable future for all.”
The success of SELF’s model is evident in the real-life impact on homeowners.
Leslie, a client in Boynton Beach, Florida, used a SELF loan to repair subfloors in her deteriorating home. As a low-income senior receiving disability assistance, she had no other financing options. “I would have nowhere else to go if I wasn’t able to acquire this loan. I am truly grateful to SELF for helping me stay in my home,” she said.
Diana, a retiree in Clearwater, Florida, needed urgent repairs after Hurricane Milton damaged her mobile home. With a fixed income and an adult disabled daughter to care for, she turned to SELF’s partnership with Kiva.org for a crowdfunded loan. “If it were not for our Solar and Energy Loan Fund loan, we may have lost everything,” she said.
For more information on SELF’s programs and impact, visit https://solarenergyloanfund.org or contact Erin Autin at erina@solarenergyloanfund.org, 772-519-7810.
About the Solar and Energy Loan Fund:
SELF is America’s first non-profit green bank and community development financial institution. SELF’s mission is to rebuild and empower communities by providing access to affordable and innovative financing with a primary focus on delivering renewable energy, energy efficiency upgrades, and climate resilience to low- and moderate-income (LMI) communities. SELF strives to create positive social, economic, and environmental impacts by helping people improve their homes’ health, safety, and quality of life while reducing costs and greenhouse gas emissions.