Low Income Homeowners to Receive Microfinance for Energy Saving Insulation

Online, October 25, 2010 (Newswire.com) - Ann Arbor based home improvement contractor and energy efficiency specialist, Ms Green Construction is introducing a pilot Micro Finance program to help low and fixed income home owners in the Southeast Michigan area improve their homes' energy efficiency and reduce their heating and cooling costs.

The Micro Finance plan was conceived by April Rue, owner of Ms Green Construction as a way to give back to the community and to provide assistance to individuals and families trying to make ends meet. "I grew up in similar circumstances to many of the people this program will help, and along with our commitment to being an environmentally conscious business," April said, "our other priority is being socially responsible and trying to assist people in need."

This initiative will provide loans of typically less than $3,000 at below market interest rates. The micro-loans will finance the costs of labor and materials for green insulation products in the form of cellulose attic insulation and retro-fit spray foam wall insulation. April Rue states, "The Insulation Micro Finance program's goal is to provide the latest in green insulation technology to individuals and families who need it the most, but can afford it the least."

These vital upgrades would allow the homeowner to immediately reduce energy costs. Homeowners will typically save 10 to 30 percent on their yearly heating and cooling costs. In theory, the savings on their energy bill will provide for their micro-loan payments. After the loan is repaid, the homeowner continues to save and the property value is increased due to the energy savings and green improvements.

The initial trial of Ms. Green Construction's Micro Finance program will provide funding to a limited number of qualified candidates in Ann Arbor and the surrounding areas, and with continued success will be expanded to meet the needs of the community.