Energy Loan Fund

Program Energy Loan Fund
Category Financial Incentive
Implementing sector State
Last Update
State Ohio
Administrator Ohio Development Services Agency
Website http://development.ohio.gov/bs/bs_energyloanfund.htm
Budget FY 2017: $11.25 million
Start Date
Technologies Solar Photovoltaics

Note: Loan applications for fiscal year 2017 will be accepted on a first come, first served basis through June 1, 2017. Letter of Intent must be submitted by May 15, 2017.

The Energy Loan Fund provides low-cost financing for energy efficiency and renewable energy improvements to Ohio-based businesses with less than 500 employees, manufacturers enrolled in the Energy Efficiency Program for Manufacturers, nonprofits,  and public entities. For further information regarding eligibility, please view the Program Guidelines.

Loans can range between $250,000 and $2 million, but the Ohio Development Services Agency reserves the right to increase these limits on a case-by-case basis.

The applications must demonstrate a minimum 15 percent reduction in energy use as a result of the project. Other evaluation criteria include the application’s completeness, whether application meets the requirements of applicable state and/or federal funding sources, type of eligible technologies utilized and the extent of energy savings achieved as a result of the project, extent of job creation and improvement in environmental quality as a result of the project, extent of match investment in the project, the project readiness and timeline to complete project by deadline of certain funding sources, applicant’s need for financial assistance to complete project, and the advancement of the mission of the Office of Energy.

The pre-application review process takes from 7 to 10 days and a final response should occur within 45 days.

The Energy Loan Fund is managed by the Ohio Development Services Agency. Funding is provided through the Ohio Advanced Energy Fund and the Federal State Energy Program.

See the website above for complete details.

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