The Energy Loan Guarantee Program (ELGP), created by Act 87 in 2013, is administered by the Vermont Economic Development Authority. The ELGP provides loan guarantees to financial institutions for loans made to businesses for energy efficiency improvements.
VEDA guarantees a maximum of 75% of the value of the loan, not to exceed $250,000. There is no limit on the value of the lender's loan. There is a 3% guarantee fee, based on the guaranteed amount of the lender's loan.
| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Vermont |
| Incentive Type: | Loan Program |
| Web Site: | http://www.veda.org/financing-options/vermont-commercial-financing/energy-loan-guarantee-program/ |
| Administrator: | Vermont Economic Development Authority (VEDA) |
| Start Date: | |
| Eligible Renewable/Other Technologies: |
|
| Maximum Loan: | Guarantee of 75% of the lender loan, not to exceed $250,000 |
| Name: | 10 V.S.A. § 280cc to § 280dd |
| Date Enacted: | 06/17/2013 |
| Effective Date: | 06/17/2013 |
| Name: | Eun-Young Denny |
| Organization: | Senior Commercial Loan Officer - Vermont Econ |
| Address: |
58 East State St, Suite 5 Montpelier VT 05602 |
| Phone: | (802) 828-5460 |
| Email: | edenny@veda.org |
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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