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Energy Efficiency Revolving Loan Fund

Eligible States MS
Type Loan
Area of Interest Renewable Energy, Energy Efficiency
Description

Mississippi offers low-interest loans for renewable energy and energy efficiency projects. All projects must demonstrate that they will reduce a facility's energy costs, promote the development and demonstration of efficient and commercially feasible technologies and processes in the state, and must also utilize Mississippi's existing energy resources, public utilities, and/or developing resources to foster economic growth.

The interest rate is 2 percent below the prime rate, with a maximum loan term of ten years. The maximum loan is $500,000. This program is supported by a revolving loan fund of $7 million, established through federal oil overcharge funds.

Eligible Organizations Educational Institution, Local Government, Nonprofit, Small Business
How to Apply The borrower will be responsible for providing the Mississippi Development Authority with a one percent closing/servicing fee. The loan must be secured by a lien or liens on either the facilities to be installed and/or other unencumbered business assets, personal guarantees, surety bonds, or some combination of the above. Any individual owning 20 percent or more of a business obtaining a loan under this program must offer a personal guarantee for the loan.
For More Information http://www.mississippi.org/index.php?id=340 Exit EPA Disclaimer
Primary Contact Terrance Spears
Mississippi Development Authority
Energy Division
P.O. Box 849
501 North West Street
Jackson, MS 39201
(601) 359-3552
tspears@mississippi.org

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