Challenge #3: Growing Green Lending

Goal/purpose: The MI Healthy Climate Challenge #3: Growing Green Lending is designed to expand clean energy financing across Michigan by empowering community lenders to offer more accessible and affordable green lending products. It encourages collaborative approaches that strengthen the clean energy financing ecosystem, foster innovative partnerships, attract additional investment, and reduce barriers to scaling clean energy financing strategies.

Additional applicant eligibility criteria: Applicants located outside Michigan, or applicants that are not financial institutions, must include a Michigan-based financial institution as a partner. A Michigan-based financial institution is defined as a bank, credit union, CDFI, or other lending entity with lending services in Michigan.

Project eligibility: Funds may be used for activities that build green lending capacity, rather than for the financing or contributing to the financing of direct installation of individual clean energy projects. Eligible uses focus on technical assistance, education, coordination, and tools that help lenders and communities prepare for, structure, deploy, or expand clean energy financing.

Application process: Applicants must submit a full online application by Sunday, March 22, 2026. The official application must be submitted by emailing all required documents to NeuenfeldtH@Michigan.gov following the instructions on the application. Required documents include the Application Form, Project Budget Template, Project Timeline Template, and most recent financial statements or A-133 audit.