Electric Vehicle Charging Station Loan Program
This program is funded through the State Infrastructure Bank (SIB), which is operated by the Vermont Economic Development Authority in conjunction with the Vermont Agency of Transportation and the Federal Highway Administration. Electric vehicle charging stations and natural gas refueling stations available for public use are eligible for SIB financing. For more information about electric vehicles and electric vehicle charging station technology, please visit www.driveelectricvt.com. Drive Electric Vermont is a project of the Vermont Energy Investment Corporation (VEIC) in partnership with the State of Vermont and a broad array of stakeholders advancing electric vehicle technology.
- Sole proprietorships, partnerships, corporations (for profit and non-profit) and municipalities wishing to undertake a project as described below.
Use of Proceeds
- Purchase and/or installation of electric vehicle charging stations;
- All stations must be made available for use by the general public.
Loan Rates and Terms
- Interest Rate: 1% Fixed;
- Term: Dependent on useful life of asset;
- Loan Amount: Up to $100,000.
- 2% commitment fee.