The American Recovery and Reinvestment Act (ARRA) State Energy Program (SEP)
The New Hampshire Community Loan Fund and the New Hampshire Community Development Finance Authority (CDFA) offer the Enterprise Energy Fund. This revolving loan is funded through New Hampshire's State Energy Program allocation under the American Recovery and Reinvestment Act (ARRA). The purpose of the fund is to help business owners and non-profit organizations in the state make energy improvements for their buildings.
A wide range of activities are eligible for funding including energy audits, whole building improvements, equipment and appliance upgrades, lighting upgrades, heating and cooling upgrades, solar thermal technologies, and renewable energy installations, among others. The CDFA and Community Loan Fund will work with organizations to try to make the cost of financing less than the energy savings. Loan amounts range from $50,000 to $500,000.
Loan terms vary by type of entity. Interest rates for non-profits range from 2% to 2.5%, and loans are provided to these entities in customized 3, 5, 7, and 10-year financing packages. Terms for for-profit businesses are as follows:
- 3 years - 2.75%
- 5 years - 3.25%
- 7 years - 3.50%
- 10 years - 4.00%
The application period is currently open and applicants must submit initial inquiries via the CDFA grants management website. There is no application deadline; however, funding is available on a first-come, first-served basis. Project applications will be evaluated on criteria including the financial stability of the business or non-profit, the age of the building where the efficiency project is proposed, and the current energy efficiency of the building (based on an energy audit). In addition, because the Enterprise Energy Fund is trying to include a wide range of business types (micro, small, medium, large) and geographic diversity, those factors will also be considered in funding decisions.