MARBIDCO Rural Business Energy Efficiency Improvement Loan Fund

September 03, 2024

Summary

Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO) offers low interest loan to help improve energy efficiency of agricultural operations and other resource based business in Maryland. Subsidized loan is provided at below market rates to help businesses finance equipment or technology to reduce business related energy consumption. To qualify for the loan, the applicant must provide a copy of energy audit or energy management plan report provided by a qualified third party energy auditor.

Loan amounts can range from $5,000 to $30,000, with repayment terms tied to anticipated energy savings of the project. The program also offers a grant subsidy to the borrowers up to 10% of the loan (not to exceed $1,000) to help reduce the debt service expense. More information is provided in its application and in the website above.

Program Overview

Implementing Sector:	State
Category:	Financial Incentive
State:	Maryland
Incentive Type:	Loan Program
Web Site:	https://www.marbidco.org/marbidco-loan-programs-rural-business-energy-efficiency-improvement-loan-fund
Administrator:
Start Date:
Eligible Renewable/Other Technologies:	Boilers Energy Mgmt. Systems/Building Controls Building Insulation Agricultural Equipment Comprehensive Measures/Whole Building Other EE Commercial Refrigeration Equipment
Maximum Loan:	$5,000 - $30,000 Grant amount: 10% of the loan (not to exceed $1,000)
Loan Term:	Based on anticipated payback time. All loans must be personally guaranteed by the owners of the business
Interest Rate:	4.50% fixed interest rate

Incentives

This program has 1 incentives

Technologies:	Boilers, Energy Mgmt. Systems/Building Controls, Building Insulation, Agricultural Equipment, Comprehensive Measures/Whole Building, Other EE, Commercial Refrigeration Equipment
Sectors:	Commercial, Agricultural
Parameters:	The incentive has a maximum of 5000.00 $/Unit, The incentive has a minimum of $30000.00

Contact

Name:	MARBIDCO Loan Programs
Address:	1410 Forest Drive, Suite 26, Annapolis MD 21403
Phone:	(410) 267-6807
Email:	larnold@marbidco.org

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.