State Offers Funding To Help Businesses Improve Energy Efficiency

The press release from the Ohio Development Services Agency reads as follows:

The Energy Loan Fund is now accepting applications. The fund helps small businesses, manufacturers, nonprofits, and local governments implement energy efficiency improvements to lower energy use and costs. Eligible applicants receive low-interest financing to install efficiency measures that reduce energy by at least 15 percent. Technical assistance is also available to facilitate the required energy audit for potential applicants.

Small businesses, local governments, manufacturers, school districts, colleges and universities, and nonprofit organizations are eligible to apply. Loan amounts vary depending on the project and can be from $250,000 up to $2 million. Technical assistance is also available to help eligible applicants identify energy efficiency measures for their facility.

To apply, organizations must first register and submit a Letter of Intent. The Letter of Intent must include:

  • An overview of the proposed project;
  • Projected energy use savings;
  • Projected energy cost savings;
  • Simple payback with incentives, if applicable;
  • Loan amount requested and cost, share; and
  • A description of the anticipated expenses for which the loan and cost share will be used.

A Letter of Intent to apply should be submitted online at: https://development.ohio.gov/EnergyLoanFund. Qualified applicants who have submitted a Letter of Intent will receive written instructions from Ohio Development Services Agency on how to access the online Loan Application.