DOE State Energy Program, Advanced Energy Fund, and ARRA Funds
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 and Application Process.
The typical loan limit is $1 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 15as 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 resopnse 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.