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Smart Money Choices is a free personal financial planning conference series for all Ohioans presented by Treasurer Josh Mandel, and supported by a variety of statewide and regional partners.

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ReEnergize Ohio

At the Ohio Treasury, we understand that small businesses play an important role in creating jobs for Ohioans.  The cost of energy to run a small business can be significant.  ReEnergize Ohio provides a possible money-saving tool for small businesses looking to make energy-efficient upgrades that can improve their energy performance.








   

What is ReEnergize Ohio? How does it work?

ReEnergize Ohio offers up to a 3% interest rate reduction on new or existing small business loans. Small Businesses may apply the interest rate reduction on up to $550,000 of a new or existing loan for four years. For more information on the application process and program requirements, please call 1-800-228-1102, option #3.

How Does ReEnergize Ohio support small businesses?
  • ReEnergize small businesses with the benefits of improved energy performance
  • Realize the savings of reduced energy costs and up to a 3% interest rate reduction on small business loans
  • Revive communities by improving facilities using local contractors
  • Rejuvenate small businesses by consolidating debt, improving facilities and lowering overall interest expenses and monthly payouts
  • Revitalize small businesses by using at least 50% of loan proceeds for energy-efficient facility modifications and equipment upgrades

What are the Benefits of ReEnergize Ohio?

The benefits of ReEnergize are three-fold:
  • It encourages economic growth by helping businesses improve their energy performance
  • Banks form critical partnerships with local businesses
  • The Treasury strategically invests a portion of its portfolio in local economies
Does my business qualify?

Small business owners must meet the following requirements:
  • MUST have headquarters in Ohio
  • MUST have less than 150 employees
  • MUST have a majority of employees be Ohio residents
  • MUST maintain offices and operating facilities exclusively in Ohio
  • MUST use at least 50% of the loan proceeds for qualifying energy-efficient upgrades; the other 50% can be used for other business expenses
  • MUST be able to save or create jobs in Ohio
What is the process?

Follow these simple steps to complete your application:
  • View a list of eligible banks (Please note: Only Depository Banks are eligible to participate in our Economic Development programs, but not all Banks offer these services.)
  • Apply for a small business loan at an eligible bank and establish an interest rate, or apply the ReEnergize Ohio reduction to  an existing loan at an eligible bank
  • Complete an easy ReEnergize Ohio application with your bank. Paper applications are also available by contacting 1-800-228-1102, option #3
  • Submit purchase receipts, firm quote, or contract from the contractor detailing improvements to be performed with the ReEnergize Ohio application
  • If approved, the Ohio Treasury deposits funds at an eligible bank in an interest bearing financial instrument
  • In turn, the bank uses the interest generated to provide the rate reduction

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