Energy Loan Fund

Summary

Note: Loan applications for fiscal year 2024 will be accepted on a first come, first served basis.

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 $2.5 million depending on the project. Funding is provided through the Ohio Advanced Energy Fund and the Federal State Energy Program.

• $4.5 million each fiscal year is available to Ohio manufacturers, commercial businesses, municipalities, hospitals, and nonprofits with the minimum loan amount being $250,000 and the maximum loan amount being $2.5 million.
• $4 million each fiscal year is available to Ohio public K-12 schools with the minimum loan amount being $250,000 and the maximum amount being $2.5 million.

The applications must demonstrate a minimum  15% reduction in energy use as a result of the project. Other evaluation criteria include the application’s completeness, whether the application meets the requirements of applicable state and/or federal funding sources, the 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 the project by deadline of certain funding sources, applicant’s need for financial assistance to complete the project, and the advancement of the mission of the Office of Energy.

See the website above for complete details and information on where to submit a pre-application.