IADG Energy Bank Revolving Loan Program

Last updated: August 07, 2019

Program Overview

Implementing Sector:	State
Category:	Financial Incentive
State:	Iowa
Incentive Type:	Loan Program
Web Site:	http://www.iadg.com/services/financial-assistance/iadg-energy-bank.aspx
Administrator:	Iowa Economic Development Authority and Iowa Area Development Group
Funding Source:	American Recovery and Reinvestment Act (ARRA)
Eligible Renewable/Other Technologies:	Solar - Passive, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Photovoltaics, Wind (All), Biomass, Hydroelectric, Geothermal Heat Pumps, Combined Heat & Power, Wind (Small), Hydroelectric (Small)
Eligible Efficiency Technologies:	Lighting, Lighting Controls/Sensors, Chillers, Furnaces, Boilers, Heat pumps, Air conditioners, Building Insulation, Windows, Doors, Processing and Manufacturing Equipment, Other EE, LED Lighting
Maximum Loan:	$300,000
Loan Term:	1% or higher interest rate Origination fee: 1% of loan amount which can be financed Servicing Fee: No servicing fee, electronic payments required Term: Up to 10 years

Summary

The Iowa Economic Development Authority in partnership with the Iowa Area Development Group (IADG) is offering Iowa businesses and industries a low-interest financing option for energy efficiency improvements, renewable energy projects, energy management, and implementation plans. The establishment of the IADG Energy Bank Revolving Loan Fund is intended to provide an ongoing source of low interest financing for the implementation of cost-effective projects that will save energy and money, improve facilities and processes, and enhance job creation and profitability.

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