The Iowa Area Development Group Energy Bank RLF offers an ongoing source of low-interest financing for the implementation of cost-effective projects that save energy and money, improve facilities and processes, and enhance job creation and profitability. The fund was created in 2014 with nearly $2 million, and since that time, it has supported 21 projects and continues to make loans as funds are repaid.

Supporting manufacturers is a priority focus of the IADG Energy Bank funding. Examples of manufacturing upgrades include LDJ Manufacturing installing a new electric press brake to replace an older, less efficient hydraulic machine. The new equipment offers reduced setup time, increased speed (cycles) and capacity of the metal being bent, and a reduction in electrical usage. Trinity Fabricators, Inc. replaced multiple pieces of equipment with a plasma cutting system, which automated the fabrication process reducing the cutting time to a fraction compared to manual cutting. Power Lift purchased a new CNC flat sheet and tube laser cutter, offering increased capacity of both output and types of metal that could be cut, as well as improving quality control.

The IADG Energy Bank Revolving Loan Fund (RLF) is focused on making loans to businesses and industries for qualifying energy efficiency projects within the State. Preference is given to manufacturers. Loan amounts range from $50,000 - $300,000. For more information, visit IADG.com/EnergyBank or contact Bruce Nuzum, president/CEO, at bnuzum@iadg.com.