The Healthy Enterprise Fund is envisioned to be a $20 million revolving loan fund that supports green economy businesses and health-promoting enterprises. Photo: Shutterstock
July 18, 2024 (Boston, MA) – Resonant Energy LLC, a Boston-based solar energy provider serving nonprofits, affordable housing, and underdeveloped communities across Massachusetts, has secured a $995,000 loan from the Healthy Enterprise Fund to increase its staffing as the company works to build a more equitable clean energy transition.
The loan serves as a model impact investment for the Healthy Enterprise Fund, which is administered by Conservation Law Foundation (CLF) and Massachusetts Housing Investment Corporation (MHIC).
The Healthy Enterprise Fund is envisioned to be a $20 million revolving loan fund that supports green economy businesses and health-promoting enterprises providing services and creating quality jobs in under-resourced communities across New England. Entrepreneurs often lack access to vital resources to grow health-promoting enterprises in low- and moderate-income communities. Through strategic investments, the Healthy Enterprise Fund aims to increase community health, economic and environmental outcomes, while providing a reliable return to investors.
“MHIC is proud to invest in Resonant Energy as they bring renewable energy technology to affordable housing and nonprofit developments across Massachusetts,” said Moddie Turay, MHIC’s President and CEO. “Supporting the entrepreneurs and the innovators bringing new ideas and solutions to historically underinvested communities is central to the Healthy Enterprise Fund and to MHIC. We look forward to working with emerging businesses as they tackle our community’s most pressing challenges.”
“CLF is working to support small green economy enterprises like Resonant Energy serving under-resourced communities and non-profits as these businesses need access to growth capital,” said Gina Foote, CLF’s Director of Impact Investment. “CLF and Resonant are mission-aligned in our efforts to ensure a just energy transition for all as we work to shift New England off fossil fuels. And we are thrilled to be partnered with MHIC as a co-sponsor of the Healthy Enterprise Fund to support more high-impact enterprises like Resonant.”
To learn more about the Healthy Enterprise Fund and the financing products and services available, please contact Gina Foote at CLF (gfoote@clf.org) and Beth O’Donnell at MHIC (odonnell@mhic.com).
About MHIC
Founded in 1990, MHIC is an innovative private, non-profit financier of affordable housing and community development, providing financing that would not otherwise be available, and extending the impact of that financing to ensure the broadest possible benefit, especially to low-income neighborhoods and communities of color. MHIC has evolved from a Massachusetts-based loan pool to a full-service capital markets platform of debt and equity products serving New England. Supported by an experienced and dedicated staff, MHIC has invested more than $3.5 billion in 707 developments, representing more than 27,632 homes and 7.5 million square feet of commercial space.
About Conservation Law Foundation
Conservation Law Foundation, a member-supported nonprofit, protects New England’s environment for the benefit of all people. We use the law, science, and the market to create solutions that preserve our natural resources, build healthy communities, and sustain a vibrant economy.
###