Last DSIRE Review: 01/25/2013
||Local Loan Program
|Eligible Efficiency Technologies:
||Clothes Washers, Dishwasher, Refrigerators, Dehumidifiers, Ceiling Fan, Water Heaters, Lighting, Chillers , Furnaces , Boilers, Heat pumps, Central Air conditioners, Compressed air, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Siding, Roofs, Agricultural Equipment, Commercial Refrigeration Equipment, LED Lighting, (For Commercial Use), Cool Roof
|Eligible Renewable/Other Technologies:
||Solar Water Heat, Solar Thermal Electric, Photovoltaics, Wind, Geothermal Electric, Geothermal Heat Pumps, Daylighting, Small Hydroelectric, Renewable Fuels, Ethanol, Methanol, Biodiesel
||Commercial, Industrial, Nonprofit, Schools, Local Government, Installer/Contractor, Institutional
|Amount:||Micro loans: $1,000 - $10,000 at 5% interest|
Small business and start-up loans: up to $35,000
Other loans: up to $500,000 to qualified borrowers
|Maximum Incentive:||All MACED Loans: $500,000|
|Terms:||Repayment can be partially secured by savings on electricity bills|
Micro loans must be repaid within 48 months.
The Mountain Association for Community Economic Development (MACED) offers loans to small and mid-sized businesses, non-profits, schools and municipalities to improve energy efficiency through its Energy Efficient Enterprises program. Commercial loans can be used to purchase a wide-variety of equipment and to pay for energy efficiency upgrades and renewable energy installations. The micro-loans (up to $10,000, paid back within 4 years) may be used for lighting upgrades and the purchase of energy efficient, ENERGY STAR appliances. The program is flexible; the loans are designed to finance energy efficiency projects that maintain a positive cash flow due to the resulting energy savings. MACED has an energy specialist on staff to provide technical assistance to businesses and/or building contractors.
There is also financing available to pay for training, certification, travel and exams for installers of energy efficient and renewable energy systems.
Commercial loans are made throughout MACED's service area, which includes 54 Appalachian counties in Kentucky (as designated by the Appalachian Regional Commission).