Electric vehicle (EV) adoption continues to rise across Colorado, and with it, the need for reliable charging infrastructure. In fact, in Quarter 3 of 2024, Colorado surpassed California to become the leading state for EV sales in the U.S. For community centers, income-qualified (IQ) multifamily housing (MFH), libraries, non-profit organizations, and public entities, installing EV charging stations can be a powerful way to support sustainability goals while serving the community. However, managing upfront costs or waiting for grant reimbursements can create financial challenges.
To help address this, CCEF has partnered with the Charge Ahead Colorado grant program, administered by the Colorado Energy Office (CEO), to offer the Charge Ahead Loan. This loan provides a flexible, accessible financing option for organizations that have been awarded a Charge Ahead Colorado grant. Whether you need to finance your full project or simply bridge the reimbursement gap, the Charge Ahead Loan can help.
Option 1: Finance Full Project Costs
If you’ve been awarded a Charge Ahead Colorado grant and need help covering the full cost of purchasing and installing EV charging stations, the Charge Ahead Loan is designed for you. This loan allows you to finance the entire project amount— up to $500,000—at fixed, below market interest rates and terms of up to 36 months.
Eligible applicants include community centers, libraries, non-profits, income-qualified multifamily housing, recreation centers, schools, tribal entities, and public organizations installing EV chargers for public use. By leveraging this loan, you can avoid delays and get your charging stations up and running quickly—helping your community access sustainable transportation sooner.
Option 2: Bridge the Gap While Waiting for Reimbursement
Successful grant applicants can also use this loan to bridge the gap between equipment purchase/installation and the receipt of reimbursable grant funds. The Charge Ahead Loan offers a smart solution by covering that financial gap. With access to funds within just a few weeks of submitting your application, you can move forward with equipment purchases and installation without waiting on the reimbursement timeline.
In this case, you can access bridge financing with interest only payments until your grant funds are available.
Getting Started: The Loan Process is Simple
- Visit CCEF’s website homepage and click on the “Submit a Project” button.
- Complete the project information form and attach any additional documents.
- After reviewing your submission, CCEF will schedule an initial phone or Zoom call to learn more about your project and discuss potential options.
- If your project aligns with CCEF’s mission, you’ll be invited to complete a loan application.
The Next Application Round is now Open!
The Colorado Energy Office’s Charge Ahead Colorado program is now accepting Standard and Multifamily Housing (MFH) Portfolio Lane applications through June 13, 2025 at 5:00pm MT. Need application assistance? Recharge Coaches from Drive Clean Colorado are available to assist you.
For financing support, please visit CCEF’s program page here and access program resources including the loan application checklist, process document and loan flyer.
