“As treasurer, I am working with the Legislature to create the Commercial Energy Efficiency Financing platform that will provide low-cost loans to businesses to upgrade heating and air conditioning with more efficient, less-polluting technology. These loans would be made by the California Infrastructure and Economic Development Bank (I-Bank). My office will package these loans and sell bonds backed by loan payments made by borrowers. Then, we will use the proceeds from the bond sales to make new loans to businesses for more energy efficiency projects. By securitizing these individual loans into large bond offerings we can pass along more favorable financial terms to small businesses that would normally be available to only the largest borrowers.”  See report here — ChiangHVAC