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Energy Upgrade Loans for Local Businesses and Nonprofits
Lorain, Ohio, USAFriday, April 3, 2026
The Lorain Port and Finance Authority is rolling out a new financing program—PACE (Property Assessed Clean Energy)—that enables property owners in the county to fund energy‑saving improvements through a special tax assessment instead of a traditional loan.
Who Can Apply?
- Developers
- Business owners
- Nonprofits
- Local governments
The program supports upgrades such as:
- Heating, cooling, and renewable energy systems
- Roofing, insulation, windows, and doors
How PACE Works
| Feature | Details |
|---|---|
| Funding source | Added to the property’s tax bill as a special assessment |
| Coverage | Up to 100% of project costs |
| Interest rate | Fixed for the life of the assessment (typically 2.5%–4%) |
| Loan size | $100,000 to $500,000 |
| Repayment period | 5–20 years, depending on project scope and energy savings |
Unlike conventional bank loans, the cost is spread across a property’s tax bill, making it easier to manage cash flow while investing in energy efficiency.
Benefits
- Lower operating costs through reduced utility bills
- Environmental impact by cutting energy consumption and emissions
Next Steps
Businesses and nonprofits interested in learning more should contact the Lorain Port and Finance Authority for eligibility criteria and application instructions.
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