Implementing Sector | State |
---|---|
Category | Financial Incentive |
State | Arkansas |
Incentive Type | Loan Program |
Web Site | https://www.transform.ar.gov/building-authority/about/ |
Administrator | Department of Transformation & Shared Services, Division of Building Authority |
Funding Source | Initial funding came from an American Recovery and Reinvestment Act (ARRA) grant to the Arkansas Energy Office of the Arkansas Economic Development Commission and additional contributions have since been made by the State of Arkansas |
Budget | $14,370,000 |
Start Date | 01/08/2010 |
Eligible Renewable/Other Technologies | Solar Water Heat, Biomass, Geothermal Heat Pumps, Combined Heat & Power |
Eligible Efficiency Technologies | Water Heaters, Lighting, Furnaces, Air conditioners, Heat recovery, Steam-system upgrades, Energy Mgmt. Systems/Building Controls, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Motor VFDs, Comprehensive Measures/Whole Building, Custom/Others pending approval |
Applicable Sectors | State Government |
Maximum Loan | 100% project financing based on available funds |
Loan Term | Term of repayment cannot exceed 10 years |
Interest Rate | 0% |
All equipment must be new and commercially available. Systems must meet UL, IEEE, NEC, and SRCC standards where applicable. |
The ABA Revolving Loan Fund is an interest free loan program adopted by the Arkansas General Assembly through Act 1372 of 2009. The loan program provides a funding mechanism for state agencies, boards, and commissions, including institutions of higher learning who own their own facilities and for renovations which exceed $250,000. The ABA Revolving Loan Fund was funded by a grant from the American Recovery and Reinvestment Act of 2009 (ARRA) and contributions from the State of Arkansas (Governor’s General Improvement Funds). Funds are available on a continuing bases.
Recommended projects include:
Further information is available from the Arkansas Building Authority on the RLF procedures, application and agreement requirements.
* A revolving loan program is one in which the loan repayments are added back into the fund. In this way, the loan program, in theory, may continue indefinitely.
Name | Act 1372 |
---|---|
Associated File | Act1372.pdf |
Date Enacted | 03/06/2009 |