IADG Announces New Energy Bank Revolving Loan Program
Iowa Area Development Group is pleased to announce the newly created IADG Energy Bank Revolving Loan Fund program. This exciting new program has been created to finance renewable energy projects, energy efficiency improvements and energy management and implementation plans for business and industry.
“We are very excited about this program,” stated Rand Fisher, president of Iowa Area Development Group. “It allows us to provide an ongoing source of low interest financing for the implementation of cost effective projects that will save energy and money, improve facilities and processes, and enhance job creation and profitability.”
The loans are available in the amount of $50,000 – $500,000, with the specific terms based on the project and energy savings. These loans will be offered at below market rates (currently 1%) and available for a term of up to 10 years.
In addition to the loan, the IADG Energy Bank Revolving Loan Program also provides support and technical assistance to eligible applicants, including the following services:
- IADG staff will be your point of contact and advocate in identifying eligible projects.
- Working with utility providers, qualified engineers and architects, and energy service providers, the IADG Energy Bank Program staff will help you get the right technical information you need to make thoughtful decisions.
- IADG partners are available to provide the support you need to identify, implement and make your project a success.
“We are excited to get this program launched,” stated Fisher. “We encourage any Iowa companies that think this program may be a fit, to check out the full information at IADG.com/EnergyBank and contact our staff if they need additional information.”
Visit the IADG Energy Bank Revolving Loan Fund program website or contact Bruce Nuzum, IADG energy bank program officer at [email protected] / 800-888-4743 for more information.
