Energy Loan Guarantee Program

May 28, 2021

Summary

The Energy Loan Guarantee Program (ELGP), created by Act 87 in 2013, is administered by the Vermont Economic Development Authority. The ELGP provides loan guarantees to financial institutions for loans made to businesses for energy efficiency improvements.

VEDA guarantees a maximum of 75% of the value of the loan, not to exceed $250,000. There is no limit on the value of the lender's loan. There is a 3% guarantee fee, based on the guaranteed amount of the lender's loan.

Program Overview

Implementing Sector:	State
Category:	Financial Incentive
State:	Vermont
Incentive Type:	Loan Program
Web Site:	http://www.veda.org/financing-options/vermont-commercial-financing/energy-loan-guarantee-program/
Administrator:	Vermont Economic Development Authority (VEDA)
Start Date:
Eligible Renewable/Other Technologies:	Equipment Insulation Lighting Lighting Controls/Sensors Chillers Furnaces Boilers Heat pumps Air conditioners Heat recovery Steam-system upgrades Compressed air Programmable Thermostats Caulking/Weather-stripping Duct/Air sealing Building Insulation Windows Doors Siding Roofs Reflective Roofs LED Lighting
Maximum Loan:	Guarantee of 75% of the lender loan, not to exceed $250,000

Authorities

Name:	10 V.S.A. § 280cc to § 280dd
Date Enacted:	06/17/2013
Effective Date:	06/17/2013

Contact

Name:	Eun-Young Denny
Organization:	Senior Commercial Loan Officer - Vermont Econ
Address:	58 East State St, Suite 5 Montpelier VT 05602
Phone:	(802) 828-5460
Email:	edenny@veda.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.