Renewable Works Financing

Idaho First Bank

Idaho First Bank will finance renewable energy projects through a home equity line of credit. Contact Idaho First for more information

Mike Kummer
Sr. Loan Officer, Residential Lending
250 S. 5th St., Suite 800
Boise, ID 83702
(208) 947-0438
mkummer@idahofirstbank.com

USDA Rural Development Energy Project Assistance

The USDA Rural Development offers grants and loan guarantees for renewable energy and efficiency projects. Grant awards can be equal to up to 25% of the project costs. Loan guarantees can be up to 75% of the project costs. If both are awarded the total assistance cannot exceed 75% of the project costs. For example, a 20% grant award stipulates a maximum 55% loan guarantee. Eligible projects must be located in rural areas (population of less than 50,000). Agricultural projects and commercial projects qualify. To qualify as a agricultural project, at least 50% of the applicants income must be derived from agriculture related proceeds. To qualify as a commercial project, the business must have fewer than 500 employees and annual sales of less than $1 million.

Reenewable Energy Resources is offering their assistance in the application process. There are two types of applications. Projects with a cost of $200,000 or less qualify for the short form. Projects with a cost greater than $200,000 up to $25 million will use the long form, which requires additional feasibility analysis.

For more information contact Brian Buch (Brian.Buch@id.usda.gov) at the USDA in Boise or Mike Gallup (mikegallup@renewableworks.com) at Renewable Energy Resources. To read how other projects have used the funding, click here.

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