IADG Energy Bank Revolving Loan Program

From Open Energy Information

Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Iowa


Name IADG Energy Bank Revolving Loan Program
Incentive Type State Loan Program
Applicable Sector Commercial, Industrial
Eligible Technologies Boilers, Building Insulation, Central Air conditioners, Chillers, Doors, Furnaces, Heat pumps, Lighting, Lighting Controls/Sensors, Processing and Manufacturing Equipment, Windows, LED Exit Signs, CHP/Cogeneration, Biomass, CHP/Cogeneration, Geothermal Heat Pumps, Hydroelectric, Passive Solar Space Heat, Photovoltaics, Small Hydroelectric, Small Wind, Solar Space Heat, Solar Thermal Electric, Solar Water Heat, Wind, LED Lighting
Active Incentive Yes
Implementing Sector State/Territory
Energy Category Energy Efficiency Incentive Programs, Renewable Energy Incentive Programs
Amount $50,000-$500,000






Funding Source American Recovery and Reinvestment Act (ARRA)



Maximum Incentive $500,000





Terms 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

Program Administrator Iowa Economic Development Authority and Iowa Area Development Group
Website http://www.iadg.com/services/financial-assistance/iadg-energy-bank.aspx


Incentive Source
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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.

Incentive Contact

Contact Name Bruce Nuzum
Department Iowa Area Development Group
Address 2700 Westown Pkwy
Address 2 Suite 425
Place West Des Moines, Iowa
Zip/Postal Code 50266
Phone (515) 223-4817


Email bnuzum@iadg.com
Website http://www.iadg.com/services/financial-assistance/iadg-energy-bank.aspx


















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency (DSIRE)"