As a City of Minneapolis business interested in reducing your energy use, you are eligible to apply for funds the City has allocated to help finance energy efficiency projects implemented in commercial properties. The City has partnered with CEE to administer this loan program. Funding includes a combination of loan and grant monies. The grant will be realized as the borrower repays the loan.
Program Features
Grant
- Grant in the amount of 20% of the project cost after rebate (not to exceed $5,000)
Loan
- Interest rate of 0%
- Maximum loan is $75,000
- Closing costs of $200
- Loan term up to 120 months
Eligible Borrowers
A sole proprietorship, partnership, nonprofit, corporation or other business entity which is the owner and/or tenant of an eligible property within the State of Minnesota.
Eligible Property
Business must be located in the City of Minneapolis
Eligible Improvements
Improvements including, but not limited to: lighting technology upgrades, envelope air sealing, insulation of doors, HVAC controls upgrades, refrigeration controls upgrades and refrigeration equipment replacement.
Loan Documentation Needed to Begin the Application
- Completed loan application
- Articles of Organization, Bylaws, Certificate of Incorporation, Borrowing Resolution
- Two years financials and/or tax returns for business
- Personal guarantors must total at least 50% ownership of the business
- Written consent from property owner for tenant to do work on the property (if owner is not the loan applicant)
- Estimate(s) for proposed work to be done
All programs are subject to change without notice. Online information from the City of Minneapolis at
www.ci.minneapolis.mn.us/cped. This program is funded with an Energy Efficiency and Conservation Block Grant from the U.S. Department of Energy.