RSF Social Finance Extends Additional Financing to GREEN CREATIVE
SAN FRANCISCO, April 24, 2015 /3BL Media/ - RSF Social Finance (RSF) is pleased to announce a new loan to GREEN CREATIVE, a San Francisco Bay Area-based developer and manufacturer of commercial and specification grade LED lighting solutions. RSF financing, in participation with New Resource Bank, will be used to fund working capital needs and build inventory for this ever rapidly growing company.
According to the US Energy Information Administration, lighting accounts for 23% of the commercial sector’s total electricity consumption. As energy demands increase, the energy production required to power buildings will expand the US carbon footprint and weigh heavily on the planet.
Traditional lighting sources such as incandescent and halogen lights contribute to high energy usage and high monthly electric bills. GREEN CREATIVE provides state of the art lighting solutions that reduce carbon footprint and lower electricity, maintenance, and cooling bills. These products generally use 80% less energy than traditional lighting sources. In addition, GREEN CREATIVE lights do not contain Mercury or any other harmful substance.
“RSF is pleased to extend a loan to GREEN CREATIVE and work with a values aligned partner like New Resource Bank,” says Mike Gabriel, RSF Lending Manager. “Together we are helping businesses and building owners save money on electricity bills and accelerating a path to a low carbon future.”
“Securing additional financing allows GREEN CREATIVE to continue innovating and answering the fast growing demand for its products,” says GREEN CREATIVE Principal and Co-Founder, Cole Zucker. “Having financial partners whose long-term social and environmental goals are in line with GREEN CREATIVE’s core beliefs and values means a lot to us.”
LED technology is changing the lighting industry, and producing top products requires ongoing investment in technology development and innovation. GREEN CREATIVE has received significant industry recognition, including several product selections for the prestigious 2013 and 2014 Illuminating Engineering Society Progress Report and the company was a finalist in the 2015 LED’s Magazine Sapphire Award.
“New Resource Bank is thrilled to partner with RSF in supporting the growth of the energy efficiency sector,” affirms Gary Groff, Senior Vice President at New Resource Bank. “GREEN CREATIVE has grown at an unprecedented rate and together we are helping reduce the carbon footprint of households and businesses.”
About RSF Social Finance
Located in San Francisco, CA, RSF Social Finance (RSF) is a financial services organization dedicated to transforming the way the world works with money. Since 1984, the organization has made over $275 million in loans and $130 million in grants to non-profit and for-profit social enterprises working in the areas of Food & Agriculture, Education & the Arts, and Ecological Stewardship. RSF's lending capital comes primarily from over 1,600 individuals who have invested $1,000 or more in the organization's Social Investment Fund. Investors earn a competitive return on their money comparable to a certificate of deposit while their funds are deployed to leading social enterprises. To learn more, visit www.rsfsocialfinance.org
About Green Creative
GREEN CREATIVE is a 5-year-old solid state lighting development and manufacturing company based in the San Francisco Bay Area, CA. The company specializes in providing cutting edge LED lighting solutions for the commercial and specification markets. GREEN CREATIVE is fully integrated with strong R&D capabilities to constantly offer the latest technology available. For more information on GREEN CREATIVE please visit www.greencreative.com
About New Resource Bank
New Resource Bank is the premier bank for people who are leading the way to a more sustainable world. We match an entrepreneurial spirit with a dedication to achieving environmental and social as well as financial returns. Our mission is to advance sustainability with everything we do—the loans we make, the way we operate and our commitment to putting deposits to work for good. To learn more visit www.newresourcebank.com
Contact
Mike Gabriel, Lending Manager
mike.gabriel@rsfsocialfinance.org
415.561.6192
Megan Mendenhall, Communications Associate
megan.mendenhall@rsfsocialfinance.org
415.561.6161
