Using a Personal Loan to Fund a Green Project

Green projects—property investments that positively help the environment—are of growing interest among consumers. According to a recent survey, more than a third of companies that build or remodel single and multifamily homes reported that over half of their projects are green.

Unfortunately, most homeowners don’t have access to the necessary capital to get certain home improvement projects rolling. For those interested in carrying out their own do-it-yourself (DIY) green project, a personal loan can be a great way to obtain the right funds. Fiona can help prospective borrowers get matched with personalized offers to finance all types of environmentally-friendly projects.

When we say “green project,” what does that mean? Examples of green projects include:

• Installing solar panels 

• Remodeling roof with vegetation to create a literal "green roof"

• Replacing home’s insulation with eco-friendly materials

• Building a compost bin

These projects are designed to make homes more energy efficient and environmentally sustainable. Green projects help in lowering our carbon footprint and reducing the amount of exposed harmful waste.

With personal loans available to finance green projects, borrowers can feel happy that their individual investments are contributing to a greater good. However, many consumers also appreciate the fact that green projects can actually save them money. 

There are several ways that investing in green projects can put money back into consumers’ pockets. Adding solar panels or other eco-friendly home improvements can significantly reduce energy costs. Cheaper utilities mean more money to budget for other life expenses, as well as savings.

In addition to the almost-instant savings of lower utility bills, green projects can also be used to receive tax credits and rebates. Consumers can report green project investments on their tax returns to take advantage of federal and state tax incentives.

Lastly, green projects can increase a home’s property value in certain cases. According to SmartMarket Report, the average green construction project sees a 7% increase in building asset value.

Green projects can save consumers money in multiple ways, from lower energy costs to tax incentives. On top of that, green projects contribute greatly to creating a more sustainable environment. 

Trying to fund your own DIY green project? Use Fiona to get matched with personal loan offers that meet your financial needs.