Get to Know LPO’s Four Loan Programs
LPO provides loans and loan guarantees and is accepting applications under its four loan programs: Title 17 Clean Energy Financing, the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program, Tribal Energy Financing Program, and Carbon Dioxide Transportation Infrastructure. View our Financing Programs page for specific eligibility requirements.
LPO encourages projects across eligible technology areas to apply. LPO conducts rigorous due diligence of every application, and if an eligible project meets all application requirements, only then provides financing (subject to available authority).
Based on the authority provided by Congress, LPO evaluates projects across all statutorily eligible technologies on a level playing field. LPO does not pick and choose the technologies that come to the office (requested applications by sector reflected here in our Monthly Application Activity Report) and that are ultimately offered a conditional commitment or issued a loan. Eligible projects are vetted by LPO in a multi-step application process, and must meet the specific requirements of the program an applicant is applying to, as discussed below.
LPO’s Application Process
LPO operates an open program for applications, negotiation, and making loan guarantees. This means that there is no solicitation period or funding opportunity announcement (FOA) for LPO programs: applicants are invited to contact LPO and submit applications at any time.
The application process through conditional commitment commonly takes up to a year. However, it can move faster or slower depending on applicant readiness with required materials. Applicants are assigned an LPO expert from an applicable technology field to support applicants through the LPO process. (Learn more about conditional commitments and how they differ from closed loans or loan guarantees.)
Before issuing a loan, LPO conducts rigorous due diligence that is comparable to what is considered best practice in the private sector. Due diligence includes eligibility determinations and technical, market, financial, credit, legal, and regulatory reviews, among other items.
This due diligence is performed by LPO's professional staff, including qualified engineers and financial and legal experts as well as third-party advisors. In the due diligence process, LPO ensures the project is evaluated to properly identify and manage risks and to ensure the loan will satisfy the intent of the authorizing legislation and provide a reasonable prospect of repayment.
This rigorous evaluation and underwriting process includes vetting a potential borrower’s inputs and assumptions about the proposed project, including but not limited to the project sponsors' financial and technical assumptions, the market for their technology, and project risks. In addition, during its evaluation of a potential project, DOE can employ mitigation measures against the assessed risks of a potential project, as is routine in the evaluation and underwriting of any project loan.
The pre-application, application, and due diligence process may take several months to complete, and it is through this process that LPO identifies clear conditions that must be met prior to closing and funding a given transaction.
How To Begin
All potential applicants are encouraged to contact LPO for no-fee, no-commitment, pre-application consultations prior to submitting a formal application. Pre-application consultations allow potential applicants to begin a dialogue directly with LPO staff to help LPO learn more about the project and to help ensure that applicants fully understand DOE's requirements and processes. Request a pre-application consultation using LPO's online portal.
Projects that have engaged in pre-application consultations and are ready to proceed with a formal application should contact their LPO staff contact for instructions on how to access the online application portal.
LPO’s Application Portal does not allow access from outside the United States. If you are attempting to access the Application Portal from outside of the United States, please notify your LPO contact to obtain an alternative method for access. If you do not have an LPO contact, send an email to LPO@hq.doe.gov requesting assistance. Thank you for your interest in LPO.