426239 - Energy Infrastructure Revolving Loan Program

The Energy Infrastructure Revolving Loan Program (EIRLP) provides low‑interest, short‑ to medium‑term loans to support the development, construction, and modernization of energy infrastructure throughout Iowa. Eligible borrowers include Iowa‑based businesses, rural electric cooperatives, and municipal utilities, and projects may involve electricity or gas generation, transmission, storage, distribution, renewable fuels, grid modernization, and related workforce development. Loans range from $50,000 to $2.5 million (up to 75 % of total project cost) with typical terms of 5–10 years (max 15 years) and require collateral such as real‑property mortgages, CDs, letters of credit, or corporate guarantees. Applications are submitted quarterly via www.iowagrants.gov, and prospective applicants should contact the program officer for eligibility clarification. • Eligible borrowers: Iowa‑incorporated businesses, rural electric co‑ops, municipal utilities. • Eligible projects: Energy generation, transmission, storage, grid modernization, renewable fuel infrastructure, and related workforce initiatives. • Loan specifics: Minimum $50 k, maximum $2.5 M, up to 75 % of project cost, 5‑10 year terms, various collateral options. • Application process: Quarterly cycles, submission through IowaGrants portal, contact program officer for guidance, confidentiality provisions for financial data. • Funding administration: Loans made directly by IEDA, reviewed by the IEC Board’s Loan Committee, with post‑approval conditions (e.g., collateral, interconnection agreements).