Small Business Illinois On-Bill Energy Efficiency Loan Program
The Illinois Energy Efficiency Small Business & Multi-Family Loan Program is brought to you by these participating gas and electric utilities:
The Illinois Energy Efficiency Small Business & Multi-Family Loan Program is repaid on-bill, so utility customers:
- Pay for improvements through a monthly loan charge on their utility bill
- Decrease energy consumption
- Reduce utility bills
The fine print
There’s no catch. Really. If you meet the loan terms, you have a fixed interest rate that will not change; and there’s no penalty for paying early.
Eligible Properties: Commercial, multi-family, and mixed-use properties
Eligible Measures: Review our eligible measures here.
Loan Type: Unsecured loan
Loan Amounts: $500 - $150,000. Loan amount eligibility will depend on program. Check with the Illinois Energy Efficiency Small Business & Multi-Family Loan Program or contact us with additional questions.
Loan Rate: Fixed for duration of term
Prepayment Penalty: None; can pay in full at any time
Available loan programs
The following programs are currently available through the Illinois Energy Efficiency Small Business & Multi-Family Loan Program:
| Terms | Amount Borrowed | Rate |
|---|---|---|
| 1 year | $500 - $150,000* | 8.99% |
| 3 year | $500 - $150,000* | 8.99% |
| 5 year | $500 - $150,000* | 8.99% |
| 7 year | $8,001 - $150,000* | 8.99% |
| 10 year | $8,001 - $150,000* | 8.99% |
*Maximum loan amounts will vary by utility and program sector.
Learn more about the eligible improvements you can make to your business.
Does my property qualify?
Choose your utility below to see requirements for the Illinois Energy Efficiency Small Business & Multi-Family Loan Program.
- The business entity must be listed as the utility account holder.
- For leased or rented commercial properties, the utility account must be in the name of the business entity owner.
- The borrower must have an active, current, utility account.
- Current utility account cannot have been cut off for non-payment in the past 12 months nor have a pending cutoff for non-payment.
- Utility account cannot be under a deferred payment agreement or have a pending deferred payment agreement.
- Utility requirements must be met from application through loan closing when a second and final utility eligibility check will be performed.
- The entity must be listed as the utility account holder.
- For leased or rented commercial properties, the utility account must be in the name of the entity owner.
- The borrower must have an active, current, utility account.
- Current utility account cannot have been cut off for non-payment in the past 12 months nor have a pending cutoff for non-payment.
- Utility account cannot be under a deferred payment agreement or have a pending deferred payment agreement.
- Utility requirements must be met from application through loan closing when a second and final utility eligibility check will be performed.
Calculate your loan costs
Use our loan calculator to get a quick estimate of your monthly and total payment before you apply.
Find an approved contractor
You must use an authorized Slipstream Energy Finance Solutions (EFS) contractor to install the eligible improvements that make the most sense for your property. The good news? We educate and support our contractors on energy efficiency, and they will make sure you make the upgrades that benefit your building’s needs.
How to apply
Complete a commercial credit application.
The credit application is not a contract for a loan, nor does it lock you into any commitment with a contractor. It will allow us to proceed with your request for a loan to finance your improvements. Please follow the steps below:
- Download and complete the Commercial Credit Application
- Mail or fax the completed application to Energy Finance Solutions at the following address:
Energy Finance Solutions
431 Catalyst Way
Madison, WI 53719
Fax: 608.249.5788