The Energy Efficiency Fund (EFF) is part of Region 9's Business Revolving Loan Fund (BLF). The focus is to help businesses by providing funding to improve their energy efficiency, reduce operation costs and resource consumption.
Upon completion of an energy assessment (commercial auditors and financial incentives attached), application is made directly to Region 9. The applicant will meet with a loan officer to determine the eligibility of the loan. Region 9's Business Loan Fund (BLF) Committee, comprised of business professionals representing the five county Region, makes the final decisions.
Region 9 is also partnering with the Colorado Commercial Property Assessed Clean Energy (Colorado C-PACE) program to help finance energy efficiency projects.
Any business in Region 9's five county area that has received an energy assessment, or plan approval, and has turned in the full Region 9 loan application can qualify.
At this time, only Montezuma County businesses are eligible for the Colorado C-PACE program.
The minimum EEF loan is $1,000 with a maximum loan of $100,000. If funding needs are greater than the maximum, Region 9 will work with area lending institutions to provide "gap" financing. Colorado C-PACE may also provide referrals.
EEF funds can be utilized for the following primary uses:
The interest rates vary on a case by case basis, but generally will be two percent above the Wall Street Journal Prime for a term of 10 years.
A loan origination fee of 3% of the loan amount or $500 if a loan is less than $5,000 will be charged at closing.
There are no job creation requirements.
There is no requirement to leverage other funds but it is encouraged.
Completion of an energy assessment describing the improvements to be financed and the payback calculations is required. For information on the Colorado C-PACE program, go to https://www.colorado.gov/pacific/energyoffice/colorado-c-pace .
Suggested maximum of ten (10) years.
$1,000 minimum and a maximum of $100,000. Loans over $100,000 will require participation with a lending institution.
Jenny Stollar firstname.lastname@example.org
Region 9 Economic Development District of Southwest Colorado, Inc.
295 Girard Street, Suite A
Durango, Colorado 81303
(970) 247-9513 (fax)
For assistance with your application, business plan, or projection requirement, please contact the SW Colorado Small Business Development Center.
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