IETL Application and Review Process

Arkansas Industrial Energy Technology Loan (IETL) funds are distributed on a “first come - first served” basis unless an environmental impact review is required.  Companies are encouraged to contact the Arkansas Energy Office (AEO) as soon as a decision is reached to pursue IETL funding for energy related retrofits. 

If the company has a process-specific or site-wide Energy Assessment Report (EAR) and passes the pre-screen review, the company will be asked to sign a Memorandum of Understanding (MOU).  This MOU instructs the Arkansas Energy Office to reserve funding for the project.  If the company has not performed an EAR, then it must perform the assessment prior to being allowed to sign a MOU. 

The Company must submit three copies of the application documents.  The copies shall be in 1 inch three ring binders.  Each application binder shall contain:
  • Loan Application       
  • Previous 3 years of audited financial statements
  • Copy of Energy Assessment Report (EAR) 

 

Please review the IETL Process Flow Diagram for an overview with estimated timelines for each step in the process.

Technical Guidance:


Application Forms:

Contact Industrial Program Manager Jeff Seiter at jseiter@ArkansasEDC.com for electronic completion of forms.

Application Review Process 


Step 1: Eligibility Review

The first step is a high level technical and financial screening.  The simple screening is a quick look at proposed project and financial details to ensure basic assumptions are sound prior to sending it on for the detailed technical and financial reviews.  It is anticipated that all projects will pass the screening. 

Step 2: Technical and Financial Reviews

The technical and financial reviews will occur concurrently.

Technical Review


The AEO technical staff or its contractor will review the Energy Assessment Report and approve it for funding.  The technical staff may request additional information and/or calculations from the Company’s engineer.
The EAR technical review will verify that the proposed project was designed using sound engineering principles, valid assumptions and appropriate measurement and verification process for each EAR.  It will also verify that projected energy savings are accurate.  

Financial Review


The Arkansas Development Finance Authority (ADFA) will perform a detailed financial review to verify financial stability of the company and ability to repay the loan and approve it for funding.  ADFA may require the company to provide additional information or documentation.

 Step 3:  Loan agreement with AEO

   

  • Industrial Energy Technology Loan Program

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