Last Updated July 28, 2020
Program Overview
Category:
Financial Incentive
State:
Maryland
Incentive Type:
Loan Program
Administrator:
N/A
Start Date:
N/A
Expiration Date:
N/A
Applicable Sectors:
Commercial, Agricultural
Eligible Renewable/Other Technologies:
Boilers, Energy Mgmt. Systems/Building Controls, Building Insulation, Agricultural Equipment, Comprehensive Measures/Whole Building, Other EE, Commercial Refrigeration Equipment
Summary
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.