HARTFORD – Through partnerships with participating community banks, credit unions and local contractors, the Connecticut Green Bank is offering homeowners with septic system problems flexible, low-interest financing to help cover these expenses.
The Smart-E loan offers financing up to $50,000 with terms ranging from 5 to 15 years, and competitive interest rates. To be eligible for the loan, the home must be owner-occupied with 1-4 units, and the homeowner must meet debt-to-income ratio requirements.
“At Drainage Experts LLC, we see firsthand how unexpected septic and drainage issues can place a significant financial burden and stress on homeowners,” Benjamin Bahler, managing member of Drainage Experts in Ellington. “Partnering with Connecticut Green Bank has allowed us to offer our customers a practical financing option that makes necessary infrastructure repairs and improvements more accessible and less stressful.”
The program has been a valuable resource for our customers and Bahler’s business as it allows homeowners to invest in reliable septic and drainage systems while supporting responsible environmental practices.
In addition to Drainage Experts, other contractors offering the loan include ALT Services LLC in Hamden, Brookfield Septic Service Inc. in Brookfield, Camarota Sanitation & Excavation in Durham, CT Septic and Inspections LLC in East Haddam, Downies Septic and Excavation LLC in Old Saybrook, New London County Septic Service Inc. in Ledyard, and T & A Mechanical LLC in Brooklyn.
Any septic contractor in the state can easily become eligible to offer Smart-E. Contractors are encouraged to contact the Green Bank to learn more about the process.
“A working septic system is a non-negotiable item for homeowners, so when upgrades or improvements are needed, we are excited to offer Smart-E as a lending solution to address this important need,” said Barbara Waters, director of the Smart-E loan program. “This type of project can create financial challenges, but with Smart-E, homeowners have a flexible option to pay to get their system running properly again.”
Since 2013, the Smart-E loan has helped homeowners make energy-related improvements, including adding solar and battery storage, upgrading HVAC systems, and adding insulation. The program was recently expanded to include resiliency-related projects, such as septic systems, wells, basement floodproofing, and lead pipe replacement, to encourage homeowners to make their properties more climate-ready. Properly functioning septic systems can help prevent groundwater and surface water contamination, as well as other public health issues.
In total, more than 300 contractors provide Smart-E to their customers annually, and more than 10,000 homeowners have benefited from the loans.
