What are the requirements to apply for the Revolving Savings Fund?
To be eligible for the Revolving Savings Fund, your agency must be enrolled in the SoCalREN Public Agency Programs. The project using Revolving Savings Fund must also be serving an underserved community (disadvantaged, low-income, and/or rural) and participate in a SoCalREN incentive program. Reach out to your Project Manager to confirm eligibility. The governing board of your agency must also authorize the borrowing of funds for the efficiency improvements by signing a Loan Agreement. Upon RSF application approval, SoCalREN provides a Loan Offer Letter and a Loan Agreement that states the not-to-exceed loan amount and terms of repayment to facilitate the process
How is the Revolving Savings Fund unique compared to other zero-percent or low-interest energy loans?
Funds are disbursed by check within 2 weeks of executing the loan agreement. Loan amounts are not dependent on utility incentives. Additional paperwork, such as reimbursement invoices or proof of payment, are not required. Also, no post-project implementation documentation is required, relieving your agency from investing additional time and resources after funds are disbursed