It’s no surprise that inflation is on the rise, and interest rates  are going up for cars, homes, and anything that can be financed. Despite high interest rates, The Iowa Economic Development Authority are offering incredibly low interest rates as part of the Iowa Energy Center Energy Infrastructure Revolving Loan Program (EIRLP)

The Energy Infrastructure Revolving Loan Program (EIRLP) opened for applications in October 2021, replacing a previous energy loan program. The EIRLP provides low-interest loans for energy infrastructure projects that facilitate electricity or gas generation, transmission, storage or distribution. It is administered by the Iowa Economic Development Authority (IEDA) with oversight from the Iowa Energy Center (IEC) Board, which makes loan decisions once per quarter.

• Loan Amounts:
  • Minimum: $50,000
  • Maximum: $2,500,000
  • Can cover up to 75% of project costs
• Loan Terms: 5-10 years for most projects
  • (IEC Board may approve up to 15 years)
  • Interest Rate: 2% for most projects

More Information about this program can be found at:

https://www.iowaeda.com/iowa-energy-office/energy-loans/

For more information, Contact Stephanie Weisenbach, stephanie.weisenbach@iowaeda.com, 515.348.6221