621079 - Iowa Energy Saving Loans

The Iowa Energy Saving Loan (ESL) Program provides low‑interest revolving loans (0‑2% interest plus a 1% origination fee) to owners of commercial or affordable multifamily buildings (20+ units) in Iowa for energy‑efficiency upgrades. Funding of up to $2 million is available on an open‑enrollment basis until May 1 2029 or until funds are exhausted. Loans must be fully amortized within the useful life of the upgrades, up to a maximum of seven years after project completion. Eligible projects must be recommended by a qualifying energy audit, be life‑cycle cost‑effective, and improve energy intensity, comfort, or indoor air quality. • Loans target commercial and Section 8/Low‑Income Housing Tax Credit/HOME‑program multifamily properties. • Eligible measures include energy audits, weatherization, HVAC upgrades, and building energy management systems. • Interest rates 0‑2% with a 1% origination fee; repayment term up to 7 years; total loan pool $5.46 million. • Application period open now through May 1 2029; contact Program Officer Molly Kiick for questions.