Last updated: July 28, 2020
|Incentive Type:||Loan Program|
|Funding Source:||Revolving Loan Fund|
|Eligible Efficiency Technologies:||Boilers, Energy Mgmt. Systems/Building Controls, Building Insulation, Agricultural Equipment, Comprehensive Measures/Whole Building, Other EE, Commercial Refrigeration Equipment|
|Maximum Loan:||$2,500 - $30,000 Grant amount: 10% of the loan (not to exceed $1,000)|
|Loan Term:||Based on the anticipated payback time. All loans must be personally guaranteed by the owners of the business|
|Interest Rate:||4.50% fixed interest rate|
Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO) offers low-interest loans to help improve the energy efficiency of agricultural operations and other resource-based business in Maryland. A 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 an 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 on the website above.
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