Cultivate Illinois Green Energy Loans


  • Office of the State Treasurer
  • 300 West Jefferson St., 2nd floor,
  • Springfield, IL 62702
  • Phone: (217) 557-6436
  • Fax:
  • TDD:
  • Email: cultivateillinois@treasurer.state.il.us
  • Website: treasurer.il.gov/

Purpose of the Program

The Green Energy program is a one year pilot program that encourages energy efficient development and improvements by offering low interest loans to businesses, non profit organizations and local governments in Illinois.

Who is Eligible

Program Eligibility

Participants must have at least one of the following: Proof of participation in an Illinois Department of Commerce and Economic Opportunity, Com Ed Smart Ideas or Ameren energy efficiency program, signed contract with an energy service company, a LEED-accredited professional leading your project’s bid for green building certification from the U.S. Green Building Council, or a plan to install renewable energy equipment.

Application Process

How to Apply: Contact the Treasurer’s Office at 217-557-6436 for an overview of the program.

Apply for a loan at a participating financial institution and secure an agreement to use the program. Complete and submit a program application and all required documentation to the Treasurer’s Office. Your financial institution must submit a completed application for a linked deposit. The Treasurer’s Loan Committee will review your application for approval. The committee meets twice monthly.

 

Availability of Funds

Amounts and Terms: Applicants can receive loans of $10,000 to $10 million. The below-market interest rate is available for two years with the possibility of a three-year extension. The Treasurer’s Office may require a site visit prior to approval.

How Funds are to be used

Uses of Green Energy loans can include: The purchase or installation of renewable energy equipment, such as solar panels, solar thermal energy systems, small wind energy systems and

equipment or upgrades to a building that will result in an overall improvement in energy efficiency.

Types of Assistance

Loans

Year Program was established

2008