Man standing with logsGrapes in Maryland vineyardMaryland Blue CrabsGirl with apples
 

MARBIDCO Loan Programs

Rural Business Energy Efficiency Improvement Loan Fund

Improving Energy Efficiency in Rural-Based Industry Businesses

In collaboration with the Maryland Energy Administration and using Regional Greenhouse Gas Initiative (RGGI) funds, MARBIDCO offers affordable financing for projects to improve energy efficiency in food and fiber businesses.

Download Application  PDF

The goal of this program is to help rural businesses to reduce energy consumption and at the same time, increase profitability.

Cows grazing Maryland Public Television

Photo: Maryland Public Television

This program offers a low-interest, “micro” loan to enable farmers and rural-based industry business owners to implement recommendations of a third-party energy auditor. This program facilitates the purchase of equipment or technology related to lowering business-related energy consumption by providing below market rate financing assistance.

A copy of an energy audit or an ag energy management plan report (or an energy savings confirmation letter) provided by a qualified third-party energy auditor is required to be submitted with the application, as well as, a simple commercial lender referral.

Minimum / Maximum Loan Amounts: $5,000 to $30,000 Please note, loan advances may not exceed the cost of actually making the improvements minus any grant incentive funding received for a project.

Application Submission Process


All applications must be originated by the applicant. Applications are processed in the order that they are received.

MARBIDCO Interest Rate: 4.50% (Fixed rate).

Grant Incentive: 10% of the loan amount (not to exceed $1,000).

Loan Origination Fee: $75 (Paid at closing to MARBIDCO).

Debt service coverage ratio: At least 1.0 – 1.0 ratio on the annual energy savings payback.

Basic Eligibility Requirements

The borrower should have a credit score of at least 620 and no bankruptcies filed within the last seven years. Loans made under this program are unsecured and only the personal guarantees of the borrowers and/or businesses would be required. Loans will be fully amortized with terms not exceeding the anticipated savings payback period with at least 1.0 – 1.0 ratio on the annual energy savings payback.

A letter of referral from a commercial lender is required.

A copy of an energy audit or an ag energy management plan report (or an energy savings confirmation letter) provided by a qualified third-party energy consultant is required to be submitted with the application.