Rental Energy Loan Fund

The Rental Energy Loan Fund provides low interest loans to owners of residential rental property in order to make cost effective energy conservation improvements. The program is designed to assist owners in bringing the property into compliance with the Rental Energy Efficiency Standards.

Rental Enegy Loan Fund Application - Complete the application and send it to CEE Financial Resources at 212 3rd Avenue North, Suite 560, Minneapolis, MN 55401.

Loan Terms

• Interst rate 4.0% APR
• Maximum loan amount is $10,000
• Maximum term 5 years
• No pentaly for prepayment

Eligible Borrowers

• Borrowers must have at least one-third interest in the property.
• Borrowers must own the property or be purchasing it through a mortgage or contract for deed.
• Borrowers may consist of individuals, partnerships, corporations, or other business entity.
• There are no income restrictions.

Proof of Income

• Submit a copy of your most recent Federal 1040 form and Schedule E.
• If you are employed submit copys of your two most recent paystubs.
• If you are retired submit a copy of your social security benefits or pension.
• If you are self-employed submit copies Federal Tax Returns for the last 2 years.

Eligible Structures

• Property must contain at least one rental dwelling unit
• Financing does not cover improvements installed before the date of application
• Property may be owner occupied or absentee owned
• Property must have been built prior to May 1, 1989

Eligible Improvements

• Applicants must provide bids for each improvement project.
• Heating System Replacement/Modification
• Water Heater Repair/Replacement
• Wall, Attic, Foundation Insulation
• Windows/Doors
• High Efficiency Lighting
• House Doctor

Contact Jim Hasnik at (612) 335-5885 for more information.