The State of Missouri is committed to providing incentives and financing for a strong and growing energy industry. Below are links to loan programs that are of interest to companies like those in the energy solutions industry.
State of Missouri Loan Programs
Energy Loan Program
The Division of Energy provides loans to public schools (K-12), public/private colleges and universities, city/county governments, public owned airport facilities (municipal, county, regional, and international), public water and wastewater treatment facilities, and public/private not-for-profit hospitals to help reduce energy costs through the Energy Loan Program. This loan financing may be used for various energy-saving investments, including projects such as upgrading insulation, lighting systems, heating and cooling systems, windows and other items that affect your energy use.
Grow Missouri Loans
The Missouri Department of Economic Development (DED) may provide creditworthy suppliers a loan of up to 10% of the project financing, limited to $3 million per project. The principal payments may be deferred for up to 6 years. Borrowers must provide health insurance. The borrower may apply for the Grow Missouri 10% portion, and if approved, would have up to 120 days to secure the other 90% of funding for the project, which may not include other state funding.
Federal Loan Programs
SBA 7a Loan Guarantees
Guarantee of a bank loan of between 70-85%.
SBA 504 Loans
Subordinated loan of up to 40% of new fixed assets. Interest rate is fixed for the 10-20 year term of the loan.