This federal program provides guaranteed loan financing and grant funding to small businesses in Westminster that have no outstanding delinquent federal taxes, debt, judgment or debarment to purchase or install renewable energy systems or make energy efficiency improvements
Funds may be used for the purchase, installation and construction of renewable energy systems, such as:
- Biomass (for example: biodiesel and ethanol, anaerobic digesters, and solid fuels)
- Geothermal for electric generation or direct use
- Hydropower below 30 megawatts
- Small and large wind generation
- Small and large solar generation
- Ocean (tidal, current, thermal) generation
Funds may also be used for the purchase, installation and construction of energy efficiency improvements, such as:
- High efficiency heating, ventilation and air conditioning systems (HVAC)
- Cooling or refrigeration units
- Doors and windows
- Electric, solar or gravity pumps for sprinkler pivots
- Switching from a diesel to electric irrigation motor
- Replacement of energy-inefficient equipment
- Loan guarantees on loans up to 75% of total eligible project costs
- Grants for up to 25% of total eligible project costs
- Combined grant and loan guarantee funding up to 75% of total eligible project costs
- $5,000 minimum loan amount
- $25 million maximum loan amount
- Up to 85% loan guarantee
- Rates and terms negotiated with the lender and subject to USDA approval
- Maximum term of 30 years for real estate
- Maximum term of 15 years for machinery and equipment
- Maximum term of 7 years for capital loans
- Maximum term of 30 years for combined real estate and equipment loans
Renewable Energy System Grants:
- $2,500 minimum
- $500,000 maximum
Energy Efficiency Grants:
- $1,500 minimum
- $250,000 maximum
- Applicants must provide at least 75% of the project cost if applying for a grant only.
- Applicants must provide at least 25% of the project cost if applying for loan, or loan and grant combination.
- Projects greater than $200,000 require a technical report.
- Energy efficiency projects require an energy audit or assessment.
Applications for this program are accepted year round at your local USDA office.
USDA Rural Development
Strom Thurmond Federal Building
1835 Assembly Street, Room 1007
Columbia, SC 29201 (803) 253-3150