Maximum Loan: $1 million
The American Reinvestment and Recovery Act of 2009
Minimum Loan: $100,000
Assembly Bill 522 of 2009 established a fund for renewable energy, energy efficiency and energy conservation loans. According to statute, all repayments on loans, and other income derived from loans, must be added back into the fund to be redistributed as additional loans. This type of loan program structure is commonly referred to as a "revolving" loan.
Phase One of this program provided over $8 million in short-term low-cost loans to renewable energy projects. These loans served as bridge financing to cover various project start-up costs. The program is now in Phase Two, which is awarding loans to the following types of projects:
* Construction or expansion of a renewable energy system
* Construction or expansion of an energy conservation project
* Construction or expansion of an energy efficiency project
* Manufacturing of components for renewable energy systems
Complete program requirements and application forms are available at the web site above.