About the Project:
Sandy Spring Bank, backed by the Montgomery County Green Bank’s CLEER Program to help the Olney Ale House rebuild a more energy efficient and more flexible space with dining options following a fire that closed the restaurant in 2019.
Montgomery County Green Bank’s Role
The Montgomery County Green Bank and Sandy Spring Bank have a partnership with the Commercial Loan for Energy Efficiency and Renewables Program that brings needed capital to support businesses like the Olney Ale House. The Green Bank works closely with Sandy Spring to identify ways to reach customers with strong business banking solutions alongside a focus on energy efficiency.
Project Snapshot
Building Type:
Historic Restaurant built in 1920s
Property Upgrade Summary:
Improvements to recover from a fire in 2019 and from the impact of the COVID-19 pandemic. The Olney Ale House used funds to rebuild a greener and more flexible space with dining options.
Loan Amount:
Approximately $200,000 Commercial Loan for Energy Efficiency and Renewables (“CLEER”) program by Sandy Spring Bank and backed by the Montgomery County Green Bank.
Restaurants across the county have been working to reopen and grow following the challenges created by the COVID-19 pandemic.
For those who can benefit from decreasing operating expenses because of energy efficient equipment, infrastructure, and their physical space, the CLEER program is a way to make those investments in a way that generates net positive cash flow.
