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GrowNOW is a program provided by the State Treasurer's office for small business owners. Small businesses that can commit to creating or retaining jobs in Ohio can receive a two-year, 3% interest rate reduction on new or existing loans.

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ECO-Link offers a reduced interest rate on home loans that are for home improvement projects on the primary residence of the applicant. The project can be for improving an existing home or to help offset qualified costs associated with building a new home. Eligible homeowners can receive up to a 3% interest rate reduction on their loan for up to seven years. The homeowner must use the funds of the loan for the improvement of their property.

There are no fees assessed by the Treasurer’s office for the preparation, processing, reporting or monitoring of any ECO-Link application. The application process is simple and easy to complete.

How is the ECO-Link rate reduction determined?

The ECO-Link interest rate reduction will be based on the loan’s interest rate set for each borrower by the bank. If the interest rate is above 5%, the reduction will be 3%. If the interest rate is 5% or less, the reduction will be 2.1%.

Eligible products and projects include, but are not limited to:
1) Energy efficiency home improvements can be:
  • Heat pumps and traditional furnaces/AC systems
  • Solar Panels
  • Geothermal heating/cooling systems
  • Small scale wind turbines
  • Programmable Thermostats
  • Windows/Doors
  • Insulation

2) Non-Energy improvements can be:

  • Roofing and siding 
  • Home additions, porches, pools, and painting
  • Garages: new or replacement, roofing, doors
  • Land improvements and repairs: septic, fences, driveways, sidewalks, tree removal, and landscaping

3) Revitalization or restoration and retention of historic significance

4) Recovery from catastrophic or natural disasters

Eligibility Requirements: 

  • Must be an Ohio resident, which for the purposes of this linked deposit program is defined as:

a) The person has lived in Ohio for at least 180 days,

b) The address of the home to receive the ECO-Link interest rate reduction must be in Ohio as evidenced through the property records of the relevant county auditor, and

c) The home must be the primary residence of the applicant.

  • Must own an existing home or condominium, but additional permanent residential classifications may be eligible
  • Must receive approval for a qualifying loan through a participating bank
  • Must fully complete the ECO-Link application
  • Must provide the Treasurer’s office a copy of the quote(s) from contractor(s) completing the project, that details the products being installed that include labor, and other services
  • Must provide the Treasurer’s office copies of receipts for all appliances or projects that are installed by the homeowner
  • The total estimates, quotes, and/or receipts submitted for work performed with the proceeds of a loan that benefits from the interest rate reduction provided through participation in ECO-Link must be greater than or equal to the total value of the loan for which an ECO-Link interest rate reduction is sought.

Assistance for homeowners and renters
Low-income homeowners and renters may be automatically eligible for free energy-efficient improvements through the Home Weatherization Assistance Program (HWAP), run by the Ohio Development Services Agency. Visit the HWAP website for more information.


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