ADECA, Alabama Department of Economic and Community Affairs, announced on Tuesday that it was launching a $60 million dollar low cost loan program assisting Alabama businesses in saving energy, creating jobs, and reducing expenses by providing them with an affordable financing program to upgrade energy systems within their businesses. Highlights of the loan program are:
- Incremental Loan Size - $250,000 to $4 million
- Interest Rate - 2%
- Loan Advance Rate - Up to 90% of the value of the equipment
- Maximum Loan Term - 10 years
Couple this program with the current Sec 179 expensing of equipment program being offered by the IRS and Alabama businesses have a very powerful option in upgrading energy systems within their businesses - potentially resulting in significantly reduced income taxes with little or no cash outlay on the part of loan participants.
To learn more how you can couple to these two programs together to work for you and your business, contact us today for a no cost consultation.
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