Delaware Low Interest Commercial Loan Program
The Delaware Low Interest Commercial Loan Program is brought to you by Energize Delaware. Our goal is to provide businesses of all sizes, faith organizations, and nonprofits with loans to support energy efficiency and renewable energy projects that will make them more resilient. To get started, contact Energize Delaware at loans@deseu.org to obtain pre-approval on your project before submitting an application for a loan.
Hear about the program from a past participant:
The fine print
There’s no catch! Check out our program details, based on your business type and type of project below. While the program is available to all businesses, it is uniquely designed to support small business with commercial buildings.
Eligible borrowers: Nonprofit and local government entities located in Delaware, with a minimum of one year in business. Personal guarantee will be requested by all individuals with 20% or more ownership of the small business.
Eligible Properties: Delaware small businesses and commercial buildings.
Loan Type: Unsecured, direct loans.
Loan Amounts: $30,000 - $2,000,000. (Governmental entities do not have a maximum loan amount constraint.)
- Loans for $150,000 or less are perfect for small business, sole proprietorships, and other smaller entities who need financing at a lower level. These loans are subject to swift underwriting and decisioning by Slipstream EFS.
- Loans for $150,000 or more will be subject to a full credit review by Energize Delaware as part of the application process, requiring more documentation to be provided and reviewed.
Loan Terms: Loans under $150,000 for solar measures will have a maximum 20-year loan term. All other projects will have a maximum loan term of 15 years. Note - the loan term cannot exceed the useful life of equipment or improvement installed.
Shorter terms of 5 to 10 years are available at the customer’s request for non-solar projects as long as they understand that the monthly payments will be higher and might not be offset by the project savings.
If the installation address is leased, the loan term cannot exceed the life of the lease.
Loan Rate: Fixed at 2.00%.
Eligible Borrowers: Small businesses located in Delaware, with a minimum of one year in business. Personal guarantee will be requested by all individuals with 20% or more ownership of the small business.
Eligible Properties: Delaware small businesses and commercial buildings.
Loan Type: Unsecured, direct loans.
Loan Amounts: $30,000 - $2,000,000.
- Loans for $150,000 or less are perfect for small business, sole proprietorships, and other smaller entities who need financing at a lower level. These loans are subject to swift underwriting and decisioning by Slipstream EFS.
- Loans for $150,000 or more will be subject to a full credit review by Energize Delaware as part of the application process, requiring more documentation to be provided and reviewed.
Loan Terms: Loans under $150,000 for solar measures will have a maximum 20-year loan term. Note - the loan term cannot exceed the useful life of equipment or improvement installed.
If the installation address is leased, the loan term cannot exceed the life of the lease.
Loan Rate: Fixed at 4.00%.
Eligible Borrowers: Small businesses located in Delaware, with a minimum of one year in business. Personal guarantee will be requested by all individuals with 20% or more ownership of the small business.
Eligible Properties: Delaware small businesses and commercial buildings.
Loan Type: Unsecured, direct loans.
Loan Amounts: $30,000 - $2,000,000.
- Loans for $150,000 or less are perfect for small business, sole proprietorships, and other smaller entities who need financing at a lower level. These loans are subject to swift underwriting and decisioning by Slipstream EFS.
- Loans for $150,000 or more will be subject to a full credit review by Energize Delaware as part of the application process, requiring more documentation to be provided and reviewed.
Loan Terms: Maximum loan term of 15 years. Note - the loan term cannot exceed the useful life of equipment or improvement installed.
Shorter terms of 5 to 10 years are available at the customer’s request as long as they understand that the monthly payments will be higher and might not be offset by the project savings.
If the installation address is leased, the loan term cannot exceed the life of the lease.
Loan Rate: Fixed at 3.50%.
What qualifies for financing?
The Delaware Low Interest Commercial Loan Program is designed to promote the accessibility of energy efficiency and solar improvements to businesses in Delaware. Financing is available to a wide variety of businesses, but is especially geared to support smaller projects that cannot be financed through traditional business loans.
Program Eligibility: Please contact Energize Delaware to obtain pre-approval on your project prior to applying for a loan. You can reach the approval team by email at loans@deseu.org.
| Loan Options | Nonprofit Businesses | For Profit Businesses - Solar Projects | For Profit Businesses - All Other Projects | Governmental Entities |
|---|---|---|---|---|
| Minimum Loan Amount | $30,000* | $30,000* | $30,000* | $30,000* |
| Maximum Loan Amount | $2,000,000* | $2,000,000* | $2,000,000* | $2,000,000* |
| Maximum Loan Terms for Loans under $150,000** | 15 years or 20 years for solar | 20 years | 15 years | 15 years or 20 years for solar |
| Maximum Loan Terms for Loans over $150,001** | Up to 20 years | Up to 20 years | Up to 20 years | Up to 20 years |
*Loans under $150,000 are subject to a shortened application and review process and swift underwriting decisioning by Slipstream EFS.
**The loan term cannot exceed the useful life of equipment or improvement installed.
Calculate your loan costs
Use our loan calculator to get a quick estimate of your monthly and total payment before you apply.
I'm ready to apply
Please contact Energize Delaware to obtain pre-approval on your project prior to applying for a loan. You can reach the approval team by email at loans@deseu.org.
- Apply online – Complete and submit the online application
- Print the application – Download and complete the PDF application. When completed, mail or fax your application to Slipstream EFS at the address below.
No matter how you apply, you will have to submit additional documentation. After you apply online, you can upload this directly to your account file. You can also mail or fax your documentation to Slipstream EFS at the address or fax number below.
Energy Finance Solutions
431 Catalyst Way
Madison, WI 53719
Fax: 608.249.5788