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MONEY SOURCES

Angel Investors

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State Loans/Grants

Government & Community Assistance to Obtain Money

City of Bowling Green Revolving Loan Fund

Financial Resources For Northwest & West Central Ohio Entrepreneurs

About
Contact

Purpose of Program

The program's goal is to successfully motivate local business and industry to upgrade or replace equipment and/or fixtures that will reduce their electric consumption.

Eligible Businesses

The program is limited to any private for-profit business or industry in the Bowling Green community which is served by Bowling Green Municipal Utilities.

Eligible Use of Funds

For upgrade or replace of equipment and/or fixtures that will reduce electric consumption.

Loan Amounts

There is no minimum loan amount and the maximum amount is bound by the existing amount of capital in the fund. Loan amounts will be considered for up to 50% of the total cost of the energy efficient project.

Repayment Term

Payment for the loan is automatically recouped and administered by the City of Bowling Green Municipal Utilities by deriving an electricity usage proxy (Baseline usage over similar production levels for the previous two fiscal periods) for the loaned party and comparing the proxy to an actual usage amount.  The difference in usage, from actual to proxy, is then utilized to repay the fixed monthly payment.

Interest Rates

There is no interest.

Fees

To facilitate processing, a non-refundable fee of $100.00 must accompany the application.  For loans in a larger amount than $50,000 the applicant will be required to join the CDF on an annual basis, if not already a member.

Prepayment

Collateral, Security

None required.

Assignment

Participation Requirements

Loan amounts will be considered for up to 50% of the total cost of the energy efficient project.

Additional Considerations

Borrower must provide a project description including total estimated cost and payback analysis

In the event of EERLF Participant default, whether it be through location closure or late payment of electric bill(s) or movement of plant operations outside areas served by Bowling Green Municipal Utilities, or bankruptcy, the participant is responsible for payback of the remaining balance of the note within thirty days of official notice of default without penalty.  

Program Funding Source

This program is funded from the proceeds of grants received from the U.S. Department of Housing & Urban Development and the Ohio Department of Development. Compliance with applicable federal and state program rules and regulations is required.

How to Apply

Contact the Bowling Green Community Development Foundation

Links to Loan Application and/or Specific Information

Bowling Green Community Development Foundation

121 East Wooster

Bowling Green, Ohio 43402
419-353-3591

bgcdf@bowlinggreen-oh.com

Useful Information

Interest Rate Links

Business Management Links

Glossary of Important Financial Terms You Should Understand

How To Prepare A Business Plan to Obtain Money

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