IADG Energy Bank Revolving Loan Program

June 14, 2024

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.

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
Start Date:
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 Lighting Lighting Controls/Sensors Chillers Furnaces Boilers Heat pumps Air conditioners Building Insulation Windows Doors Processing and Manufacturing Equipment Other EE Wind (Small) Hydroelectric (Small) LED Lighting
Maximum Loan:	$300,000
Loan Term:	Origination fee: 1% of loan amount which can be financed Servicing Fee: No servicing fee, electronic payments required Term: Up to 10 years
Interest Rate:	1%

Contact

Name:	Bruce Nuzum
Organization:	Iowa Area Development Group
Address:	2600 Grand Avenue, Suite 430 Des Moines IA 50312
Phone:	(800) 888-4743
Email:	bnuzum@iadg.com

This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.