A pilot loan program aims to reduce energy costs in older affordable housing developments in Massachusetts. MassHousing is partnering with Boston Community Capital (BCC), a Roxbury-based community development financial institution, to offer loans to reduce energy costs by at least 20 percent at five to 10 affordable apartment communities. Loan amounts will range from $50,000 to $500,000, with the possibility for larger loans in some cases. BCC and MassHousing will jointly identify eligible properties. BCC will then analyze current energy usage at the properties, determine a scope of work, and select and oversee contractors. Most important, they will provide the up-front funds to pay for the energy improvements. Management companies will make interest-only payments to BCC at a rate of 6 percent during a two-year period during which BCC will monitor utility usage.