to connect green bank financing with USMCA’s network of small-scale, minority contractors
FOR IMMEDIATE RELEASE
June 13, 2022
ST. LUCIE Co, Fla., June 13, 2022 – The non-profit Solar and Energy Loan Fund (SELF) has entered into an agreement with the U.S. Minority Contractors Association (USMCA) to pursue a shared mission of expanding work opportunities to disadvantaged and minority contractors. SELF has financed over $20 million of green home improvement projects to date, with more than 70% of these projects in low- and moderate-income (LMI) neighborhoods. This new collaboration will help connect SELF’s green bank financing with USMCA’s network of small-scale, minority contractors to foster more economic development and green jobs in underserved communities.
USMCA President-CEO, Larry Bullock, said, “As the USMCA seeks to further expand our national footprint across America, it’s strategic partners such as SELF that provide immeasurable bandwidth as we strive to get minority owned professionals bid ready and help to scale their business. Diversity, Equity and Inclusion programs can only become a reality when these types of professional partnerships are embraced and implemented. SELF’s products and professional services help the USMCA to mitigate two historic obstacles for minority contracts, lack of expertise and access to capital. We hope to expand our collaborations throughout America.”
“We’re thrilled to partner with USMCA to address the surging demand for sustainable and resilient home improvement projects. It’s the small-scale, disadvantaged contractors creating good jobs for themselves and their communities that benefit the most from SELF’s inclusive financing programs,” said Doug Coward, SELF executive director.
Over the last four years, SELF has quadrupled its annual lending activity and opened up new satellite offices in St. Pete, Tampa, Orlando, Atlanta and Miami. SELF’s contractor network has grown to more than 800 companies in 4 states.
“When companies join SELF’s contractor network, they are able to do business in new markets with SELF’s accessible and affordable financing, which is based on an applicant’s ability to pay, not credit scores. There are no costs to contractors to join our network, no dealer fees, and no financial risk. SELF‘s low-cost loan capital helps our contractors expand their businesses, assist more vulnerable residents, and create more green jobs,” said SELF Chief Financial and Strategic Officer Duanne Andrade.
About the Solar Energy Loan Fund (SELF)
The nonprofit SELF organization is a community-based lending organization committed to social, environmental, and financial justice. As a certified Community Development Financial Institution (CDFI), SELF’s mission is to rebuild and empower underserved communities by providing access to affordable and innovative financing for sustainable home improvements. SELF is the first “green” Community Development Financial Institution (CDFI) in the Southeast and the only non-profit green bank in Florida.
About The United States Minority Contractors Association (USMCA)
USMCA is a non-profit [501C3] professional trade association of minority owned, and operated businesses (MBE/WBE/DBE) located in Illinois, Indiana, Metro-Atlanta- Georgia communities and overall within Eighteen other states throughout America. We encourage and support the development of manpower, employee training, apprentice programs, as well as notifying members of existing employment opportunities for minority, female, veterans and other designated protective class individuals consistent with Federal, State and municipal guidelines. We provide access to architectural drawings/specifications for public and private projects, while also affording educational, technical, and consultative assistance to the membership. Insurance, bonding, bidding/estimating, financing, and contract administration are just a few of the membership services available. We identify bidding and contracting opportunities for non-minority, minority firms, strategic partners [nonminority] in the construction industry and encourage the sharing of best business practices among the entire membership. We have an inhouse proprietary automated software that allows members to retrieve bid documents, plans and specifications, in our designated bid plan room electronically and on site. Individuals are eligible to receive two free hours of bid estimating advice and assistance utilizing cutting edge software and techniques. Service available to members only. Driven by our global strategic partner -Procore-discount features exist for construction management training as well.
Visit https://usminoritycontractors.org to learn more.