New Mexico Bank & Trust Announces Partnership to Provide Energy Efficiency Financing
New Mexico Bank & Trust Announces Partnership to Provide Energy Efficiency Financing
BluePath Finance Provides Long-Term Financing for Energy Efficiency Projects
ALBUQUERQUE, N.M.--(BUSINESS WIRE)-- New Mexico Bank & Trust announced today its partnership with BluePath Finance LLC to provide upfront financing for the installation of energy-efficient technologies used by commercial, industrial and agricultural companies as well as the non-profit and public sectors.
BluePath provides financing to install energy efficiency technologies and works side-by-side with energy services companies, OEMs, installers and distributors to offer turn-key solutions. Most systems can save end-users 60% of their energy consumption. Financing solutions are designed so end-users can pay for new installations from reduced utility bills, generating immediate monthly cash flow savings.
Greg Leyendecker, President and CEO said, "We are pleased to team with BluePath to provide an important financing program that can help our local customers become more energy efficient while also improving their bottom line. Companies are seeking ways to be greener, yet many companies struggle to find the up-front capital to complete these important projects. Plus, efficiency upgrades are important in our evolution toward energy independence. BluePath provides the financial model to accomplish this and helps companies see the bottom-line benefit by reducing costs and increasing profits."
BluePath provides funding for projects with up-front costs of $100,000 to $5 million for eligible energy-related projects including lighting and lighting controls; heating, ventilation and air conditioning (HVAC) and building controls; industrial motors and systems; boilers, furnaces and refrigeration systems; and fluid transport systems.
Leyendecker added, "New Mexico Bank & Trust continues to seek innovative ways to provide quality financing programs for our local business and community partners."
About Blue Path Finance
BluePath provides upfront financing for the installation of energy efficient technologies. The company's tailored solutions enable customers to pay for equipment from reduced utility bills and to immediately realize monthly cash flow savings. Working alongside its energy services channel partners, BluePath targets commercial, industrial, municipal and agricultural end-users. With the capacity to fund $150 million of retrofit projects, BluePath will finance technologies including lighting, HVAC, industrial equipment and pumping systems typically with $100,000 to $5 million in upfront costs. Enterprises with at least $100,000 per year in energy bills or 100,000 sq. ft. under roof are strong candidates. Additional information on BluePath is available at www.bluepathfinance.com. Heartland Financial USA, Inc., the parent company of New Mexico Bank & Trust, is a minority investor in BluePath Finance LLC.
About New Mexico Bank & Trust
New Mexico Bank & Trust operates 16 offices serving the cities of Albuquerque, Santa Fe, Los Lunas, Rio Rancho, Clovis, Portales and Melrose with assets of $929 million. The bank specializes in business lending and deposit services, and provides a wide variety of personal credit and deposit services along with complete electronic banking programs. Visit www.nmbt.com or call 505.830.8100 to learn more. New Mexico Bank & Trust is a member of the FDIC and an Equal Housing Lender.
New Mexico Bank & Trust
R. Greg Leyendecker, 505-830-8101
President and CEO
rleyendecker@nmb-t.com
KEYWORDS: United States North America New Mexico
INDUSTRY KEYWORDS:
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