sustainabilitySkift··1 min·For: Owner, GM, Investor, Ops
Small Hotel Group Leverages SBA Loans for Solar Power
Playpark Hospitality is bypassing the loss of federal tax credits by using SBA 504 Green Loans to fund solar installations at its boutique properties. This strategic financing allows small hotel groups to reduce energy costs and appeal to eco-conscious travelers.
Key Takeaways
- 1Utilize SBA 504 Green Loans to secure up to $5.5 million per project at preferential interest rates for renewable energy upgrades.
- 2Ensure projects reduce energy consumption by 10% or generate 15% of on-site power to qualify for federal financing incentives.
- 3Leverage solar installations as a marketing tool to attract environmentally conscious guests who prioritize sustainable stay options.
Source: Skift
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