Energy Project Accelerator Loan
Swyft Fleet Management
What CCEF
Financed
Solar
LED lighting
More efficient garage doors
“The process wasn’t cumbersome at all. CCEF made it very easy for us to apply, and everything the team asked for was standard. We even talked to some of our clients about the process.”
– Owner, Swyft Fleet Management
About the Project
Project investment: $87,598
Location: Aurora
Project Measures:
- Solar
- LED lighting
- More efficient garage doors
Key terms:
- Low- and moderate-income (LMI) area: areas in which 51% or more of the households earn less than 80 percent of the Area Median Income (AMI).
- Justice40 Initiative: a government effort to deliver at least 40% of the overall benefits from certain Federal investments to disadvantaged communities.
The Story
Swyft Fleet Management is an auto servicing business owned by Nigerian migrants who saw a gap in the market, initially starting as a business-to-business operation providing oil changes and tire services. In late 2023, the owners expanded the business to include business-to-consumer services, quickly becoming a community staple in Aurora, CO, which is categorized as a low- and moderate-income (LMI) area and Justice40 community. The owners of Swyft Fleet Management, who prefer to remain anonymous, expanded their operations to better serve the area.
Now, Swyft Fleet Management is taking a significant step forward for sustainability. They worked with CCEF to secure an Energy Project Accelerator Loan (Energy PAL) to install rooftop solar panels, LED lighting, and more efficient garage doors. These energy upgrades are projected to save an impressive 43,166 kilowatt-hours (kWh) of electricity and 164 therms of natural gas per year, valued at $24,251.
The decision to implement these energy-efficient upgrades was driven by several factors. The rooftop solar panels will significantly reduce their energy consumption, while the new LED lighting and efficient garage doors will not only improve the shop’s appearance but also allow passersby to see inside, enhancing the shop’s appeal and transparency. Furthermore, the garage doors will help conserve energy by maintaining a more stable indoor temperature.
“The process wasn’t cumbersome at all,” the owner explains. “CCEF made it very easy for us to apply, and everything the team asked for was standard. We even talked to some of our clients about the process.”
Swyft Fleet Management is not just focused on reducing their energy bills. As a sustainability-conscious organization, they actively recycle tires and oil from their operations and participate in tree-planting initiatives, further reducing their carbon footprint.
When asked if they would recommend the loan program to other small businesses in Colorado, the response was positive. “Yes, definitely. The energy upgrades reduce our costs significantly and we can pay back the loan over time.”
Swyft Fleet Management’s efforts are more than just a business move; they are a step toward a more sustainable future for the entire community. By embracing clean energy and efficient practices, they are reducing their own operational costs and serving as a model for other local businesses in the area.
Energy PAL is a statewide, short-term and low-cost loan product intended to fill finance gaps for small businesses and tax exempt organizations implementing renewable energy, energy efficiency and building electrification projects. To learn more about this loan, click here.
Image Source: Swyft Fleet Management
