Ohio Launches Energy Loan Fund for Energy-Saving Projects
COLUMBUS, Ohio — The Ohio Department of Development has launched the Energy Loan Fund, which provides low-cost financing to manufacturers, small businesses, public entities, and nonprofit organizations for energy-saving projects. The program is administered through the Department’s Office of Energy and will utilize more than $7 million in state funding through the Advanced Energy Fund as well as federal funds from the State Energy Program.
“The Energy Loan Fund is designed to be a long-term, sustainable program, using existing state and federal funds,” said Christiane Schmenk, director of the Ohio Department of Development. “The program focuses on attaining results for Ohio businesses by installing energy-saving technologies that reduce their energy bills, create conditions for economic vitality, and improve air and water quality.”