The Porter family has been cultivating corn and soybeans for more than 100 years in Mercer County. Arrangements have been finalized on a loan to finance the installation of solar PV systems for Gary and Lori Porter of Mercer and their family.
The Missouri Green Banc provided the $400,000 loan, with funding from the Department of Agriculture. Missouri Green Banc is a non-profit lender and an affiliate of the Missouri Clean Energy District and Allectrify—a public corporation specializing in assisting banks in offering loans to developers and small business owners.
The deal is described as the first loan to close under Missouri’s Clean Energy District Fast Pace Program. This is a financing mechanism that allows long-term financing for eligible improvements with no money down. It’s then paid for through a voluntary property tax assessment.