LOAN BASICS

The Iowa Energy Fund, a non-profit organization, provides expertise and low-cost funding to expand energy efficient housing, promote expanded business opportunities and assist Iowa in the transition to clean-energy technologies. 

We have funding  to assist projects related to the following three areas: 

  • energy efficient buildings 

  • renewable energy (solar, storage, geothermal, wind, etc.) and 

  • zero-emissions transportation, including charging infrastructure 

Terms:  

  • Commercial Loans $100,000 or greater 

  • Rates in the 4.0% to 5.0% APR, plus reasonable origination fees  

  • Preference to join in participation loans with other banks 

  • Emphasis in short-term, construction, and ITC bridge loans, but also open to longer terms with 20-25 year amortization 

  • Projects for Low Income Disadvantaged Communities (“LIDACs”) are prioritized, but available to assist for all Iowa communities 

LIDAC: based either on the geographic location of the funded project/portfolio or the population being served (80% of LMI or 200% of FPL).  For eligible census tracts: 

Davis Bacon Act will apply to projects over $250,000, but we can assist with compliance.  

Build America Buy America may apply to projects above $250,000 if the project is for the public or considered a place of public accommodation.

For more information, contact Joel Zook, Loan Program Manager,  at jzook@iowaenergyfund.org or by phone at (515) 442-4408.