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Low Interest Revolving Loan Fund

General Information and Structure

Lender: 
Delaware Sustainable Energy Utility
Lending Type: 
Non-profit lender
Jurisdiction: 
DE

The Low Interest Loan Program helps Delaware businesses and non-profits reduce their energy bills by improving the efficiency of their operations and increasing the use of renewable energy. Debt service can be underwritten up to 90% of savings.

Active or Closed Program?: 
Active
Eligibility Criteria: 
All credit qualified businesses, non profits, farms and government agencies including school districts located in Delaware.
Type of Financing: 
Mini-Permanent/Permanent
Loan Size Range: 
ƒƒ$10,000 -$1,000,000 per project for private and non-profit organizations
Type of Improvements Covered: 
Energy efficiency measures, alternative fuel vehicles, customer-sited renewable generation, and carbon emissions reduction measures. Energy efficiency measures must be justified by an energy audit. Renewable energy projects require a feasibility study

Financing Details

When is the Product Applicable?: 
Mid-cycle
Interest Rate: 
Interest rates will be determined by the Loan Committee and shall range between50%-120% of Municipal Bond Yields for 20 year bonds with AA rating
Maturity: 
5 - 20 years

Additional Information

Point of Contact: 
Tony DePrima, Executive Director, Delaware Sustainable Energy Utility at 302.883.3048, [email protected]
Program Notes: 
Terms shall be either: The lessor of simple payback plus one year, or ten years for amounts above $25,000; five years for amounts less than $25,000.ƒƒ A term that is justified by the projected cash flow where an energy savings performance contract model is used up to 20 years.