Small Business Energy Loan Program (Vermont)
Last modified on February 12, 2015.
Financial Incentive Program
The Small Business Energy Loan Program (SBELP) is one of four loan programs under Vermont's Sustainable Energy Loan Fund. The Fund, created in 2013, is administered by the Vermont Economic Development Authority (VEDA). The SBELP provides loans to businesses for smaller renewable energy and energy efficiency projects.
The maximum loan amount is $350,000, and VEDA will only fund up to 40% of the project. The remainder is typically funded 50% by a bank and 10% by the borrower. Loans are provided at fixed rates; current rates can be found here . Loan terms are determined on a case-by-case basis, but the maximum loan term is 10 years with a maximum 15 year amortization.
Fees associated with SBELP loans include a 1.25% commitment fee ($250 minimum and $2,000 maximum), a $50 credit report fee, an $18 flood insurance certification (if required), an appraisal reimbursement (if applicable), document recording and discharge fees, and a $100 application fee.
|Contact Name||Steve Greenfield|
|Department||Vermont Economic Development Authority (VEDA)|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||H. 395 (Act No. 87)|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.