Business Energy Loans

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Business Energy Loans

Flexible loans for your businesses’ energy efficiency needs.

Direct loans from the BFA to help you save on energy costs.

Now you can focus on growing your company instead of paying the power bill. The BFA offers loans for improving the energy efficiency of New Hampshire’s local businesses.

Whether you need a loan to improve insulation and lighting at your facility, purchase more efficient manufacturing equipment, or even switch to alternative energy, the BFA offers flexible loans that meet your needs. Repayment terms can often be extended to match the ROI of the energy investment, ensuring your business sees positive cash flow from day one.

Eligibility

  • Minimum loan size $100,000
  • Non-profits and for-profits are both eligible
  • Loan proceeds must be used for energy-saving initiatives
  • Borrower must demonstrate ability to repay financing
  • No minimum collateral requirements

How to Apply

  • Apply online or call the BFA with any questions
  • All loans subject to underwriting and approval from BFA staff and board of directors
  • Applicants required to provide 3rd party energy audit documenting projected energy savings

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Frequently Asked Questions

What is the approval process for obtaining an energy efficiency loan?

After being approved at the staff level, loan decisions for energy efficiency financing are approved by the BFA’s board of directors during our monthly meeting.

What are the reporting requirements after obtaining an energy efficiency loan?

Borrowers are typically required to submit quarterly financial statements as well as copies of the borrower’s annual tax returns. A up-to-date personal financial statement for the borrower’s personal guarantor is also typically required.

What are the repayment terms on energy efficiency loans?

When possible, the repayment timeline for BFA energy efficiency loans are matched to the energy savings expected by the project. This means that both short-term and long-term loans are possible through the program.

What are the interest rates on energy efficiency loans?

Energy efficiency loan interest rates vary based on market conditions, but are typically in-line with current commercial lending rates charged by New Hampshire banks.

What are the collateral requirements on energy efficiency loans?

There are no set collateral requirements for the BFA’s energy efficiency lending program.

Is residential real estate eligible for energy efficiency loans?

No, residential real estate is not eligible.

How do I apply for an energy efficiency loan?

Apply online, or contact the BFA via email or telephone. Applicants will need to submit a variety of financial statements and have an energy audit performed to document the projected energy savings.

Are there minimum or maximum loan sizes for energy efficiency loans?

The minimum loan amount is $100,000 and the maximum is $1,000,000. Exceptions apply. Feel free to contact the BFA with any questions.

Are there any application fees?

The BFA charges no application fee for any program.

Are start-ups eligible?

Start-ups are technically eligible but typically do not meet either the underwriting standards for the BFA’s energy efficiency lending.

Are non-profits eligible?

Yes, non-profits are fully eligible assuming they meet all other requirements.

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