Anaheim Public Utilities now offers low-cost financing for energy-efficiency measures through the State Assistance Fund for Enterprise, Business and Industrial Development Corporation (SAFE-BIDCO). Under this program, Anaheim customers can obtain low-interest loans with no application fees or points. In addition, Anaheim Public Utilities will provide, at no cost to the customer, a comprehensive energy audit and analysis as required by SAFE-BIDCO to identify and verify energy uses and needs, and evaluate the feasibility of potential measures to improve efficiency.
Who Can Apply?
Small businesses, some landlords, and nonprofit organizations may be eligible for this program. In general, an applicant must not have a net worth in excess of $6 million or an average net income in excess of $2 million.
Measures that conserve, produce or control energy use in new or existing facilities are eligible.
- Low interest rate – currently 5 percent (Interest rate subject to change without prior notice.)
- Up to eight years to pay
- Loans of up to $350,000
Loan funds cannot be used for operating, maintenance, routine repair or fuel costs. The borrower must be the project’s owner, operator and beneficiary. Loans can be used to retrofit or add energy-efficient measures to existing facilities, or to acquire certain equipment for new facilities. The financed project and its benefits must remain within Anaheim.
- $150 application fee is waived for Anaheim businesses
- No points or other loan fees
What Costs can be Financed?
Costs up to $350,000 or 10 times the amount of estimated annual savings, whichever is less, can be financed. In some cases, loans may be combined with other financing. If a loan is approved, loan funds can be used for up to 100 percent of net (after rebates, discounts or other incentives) expenses for:
- Energy studies and design and consultant fees
- Materials and equipment costs incurred after SAFE-BIDCO's acknowledgment of receipt of the application
What Loan Security is Required?
Collateral will be required on all loans. Normally, the project itself will be adequate security for a loan to a well-established, profitable business. (Landlords/mortgage holders must grant removal rights in most cases.) Loans to landlords to improve rental/investment properties must be secured by that real estate. Principals of a firm must guarantee the debt.
How the Program Works
- Call Anaheim Public Utilities at 714.765.4259 to request information about the program or to schedule your free energy audit. You can also e-mail your questions to email@example.com.
- Call SAFE-BIDCO at 800.273.8637 for an application package.
- SAFE-BIDCO will review the application for project and borrower eligibility. Acceptable applications will be acknowledged within five working days.
- Qualified requests will be evaluated by SAFE-BIDCO for project technological and economic factors. An applicant’s financial strength, credit history, ability to pay and collateral adequacy will be analyzed.
- If approved, a conditional loan commitment will be issued by SAFE-BIDCO.
- When all conditions are met, including project completion, loan papers will be sent. Work must be done by licensed contractors. (Physical inspection by SAFE-BIDCO or an agent may also be required before funding.)
IMPORTANT NOTICE: The eligibility requirements, terms, conditions and availability of funds for this program are subject to change. Applicants are encouraged to contact SAFE-BIDCO prior to submitting loan requests.
For More Information, visit the SAFE-BIDCO Web site at www.safe-bidco.com.