Connecticut Green Bank has listed its 6th offering for Green Liberty Notes sold under the Reg CF exemption.
Bank subsidiary CGB Green Liberty Notes LLC offers the securities to support small business energy efficiency upgrades.
The Green Liberty Notes may be purchased online with a $100 minimum. The company reports that the previous offering reached and surpassed its maximum raise in less than a week. To date, 67% of the investments have been $1,000 or less, and more than half of the investors have been Connecticut residents.
As it stands today, $117,200 has been committed for a maximum offering of $250,000. The security generates a 4.5% return which may increase to 4.75% for investors who reinvest through the reinvestment offer. Investments in the Green Liberty security support Eversource’s Small Business Energy Advantage (SBEA) program, which enables small businesses in Connecticut to reduce their energy costs through efficiency upgrades and zero-interest loans.
The Reg CF offering is made possible in partnership with Raise Green, an online marketplace for impact investing.
In a company statement, Bryan Garcia, President and CEO of the Connecticut Green Bank said they have been encouraged to see such demand for the notes as they have been selling out.
“… we’ve raised more than $1 million, which will be used to support small businesses in the state as they look to make energy efficiency upgrades, reduce energy costs, and help address the harmful impacts of climate change.”
The Connecticut Green Bank was established by the Connecticut General Assembly in 2011 as the nation’s first green bank reporting that it has since supported the creation of more than 26,000 green jobs, while reducing the energy cost on over 66,000 families, businesses, and nonprofits.
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