Energy Efficiency Loans
Who Can Apply?
California small businesses, qualifying landlords, and non-profit organizations. An applicant must meet SBA size standards. The borrower must be the project’s owner, operator and beneficiary. Tenants must have landlord approval.
What Are The Technical Requirements?
Each project submitted must have an analysis of its energy impact. (Contact your utility, equipment supplier or professional consultant for an analysis of your energy needs.)
For loans less than $200,000 that involve only measures covered by a utility endorsement or rebate program, the utility’s certification meets this requirement.
In some cases, loans may be combined with other financing. If a loan is approved, loan funds can be used for up to 100% of net (after rebates, discounts or other incentives) project expenses and for:
- Energy studies and design and consultant fees
- Materials and equipment costs incurred after SAFE-BIDCO acknowledges receipt of the application
- Loan fee
What Can Loan Funds Be Used For?
Any project that:
- Conserves energy equal to 15% of normal usage
- Manages load
- Retrofits (Energy-efficient measures in existing facilities “or” acquisition of equipment for a new facility)
Loan funds cannot be used for operating, maintenance, routine repair or fuel costs. The project financed and its benefits must remain within the state.
- Management systems
- HVAC system upgrades
- Alternate energy systems
- Pump, process or refrigeration system improvements
- Loans up to $450,000
- Interest rate fixed at closing
- Maximum 15 years
Terms and conditions subject to change