Solar & Battery Regulation & Incentive Programs

MARBIDCO Rural Business Energy Efficiency Improvement Loan Fund

Program Overview


Category:
Financial Incentive
Program Type:
Loan Program
Implementing Sector:
State
State:
Maryland
Eligible Storage Technologies:
Boilers, Energy Mgmt. Systems/Building Controls, Building Insulation, Agricultural Equipment, Comprehensive Measures/Whole Building, Other EE, Commercial Refrigeration Equipment
Website:
http://www.marbidco.org/_pages/programs_loans/loan_programs_rbeeil.htm
Maximum Loan:
$2,500 - $30,000
Grant amount: 10% of the loan (not to exceed $1,000)
Loan Term:
Based on anticipated payback time. All loans must be personally guaranteed by the owners of the business
Interest Rate:
4.50% fixed interest rate
Applicable Sectors:
Commercial, Agricultural
Budget :
Not specified
Last Updated:
07/28/2020
Funding Source
Revolving Loan Fund

Eligibility Criteria

EligibilitySectorsTechnologies
min $/Unit2500.0000
Commercial
Agricultural
Boilers
Energy Mgmt. Systems/Building Controls
Building Insulation
Agricultural Equipment
Comprehensive Measures/Whole Building
Other EE
Commercial Refrigeration Equipment
max $30000.0000
Commercial
Agricultural
Boilers
Energy Mgmt. Systems/Building Controls
Building Insulation
Agricultural Equipment
Comprehensive Measures/Whole Building
Other EE
Commercial Refrigeration Equipment

Summary

Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO) offers low interest loan to help improve energy efficiency of agricultural operations and other resource based business in Maryland. Subsidized loan is provided at below market rates to help businesses finance equipment or technology to reduce business related energy consumption. To qualify for the loan, the applicant must provide a copy of energy audit or energy management plan report provided by a qualified third party energy auditor. 

Loan amounts can range from $2,500 to $30,000, with repayment terms tied to anticipated energy savings of the project. The program also offers a grant subsidy to the borrowers up to 10% of the loan (not to exceed $1,000) to help reduce the debt service expense. More information is provided in its application and in the website above.