Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO) offers low interest loan to help improve energy efficiency of agricultural operations and other resource based business in Maryland. 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 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 in the website above.
|Incentive Type:||Loan Program|
|Eligible Renewable/Other Technologies:||
$2,500 - $30,000
Grant amount: 10% of the loan (not to exceed $1,000)
|Loan Term:||Based on anticipated payback time. All loans must be personally guaranteed by the owners of the business|
|Interest Rate:||4.50% fixed interest rate|
|Technologies:||Boilers, Energy Mgmt. Systems/Building Controls, Building Insulation, Agricultural Equipment, Comprehensive Measures/Whole Building, Other EE, Commercial Refrigeration Equipment|
|Parameters:||The incentive has a maximum of 2500.00 $/Unit, The incentive has a minimum of $30000.00|
|Name:||MARBIDCO Loan Programs|
1410 Forest Drive, Suite 26,
Annapolis MD 21403
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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