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. The Challenge 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 (e.g., nonprofits, community-based organizations, municipal or public entities, or for-profit organizations), must include a Michigan-based financial institution as a partner. A Michigan-based financial institution is defined as a bank, credit union, community development financial institution (CDFI), or other lending entity with lending services in Michigan.

Project eligibility: Funds from this Challenge 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. Across all eligible activities, funds must enable community lenders to finance projects based in Michigan by strengthening capacity, partnerships, or deal flow.

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