Energy Savings Funds for Nonprofits
Nonprofit organizations that want to lower their energy use can use funds that CEE and the Minnesota Division of Energy Resources have allocated.
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About the Loan
- Loan amounts up to $100,000.
- Loan terms up to 10 years.
- Borrower must be a nonprofit entity exempt from taxes under the 501(c)(3) of the Internal Revenue Code or an entity that leases an eligible facility to a nonprofit entity.
- Facility must be an existing building occupied in whole or in part by a nonprofit entity to be eligible.
Subject to change at any time. APR based on loan amount of $50,000.
|Rates starting at||Term||APR as low as|
Calculate My Payments
Based on current rates. Qualifications apply.
- Rates starting at 3.75% (4.22% APR) for loan terms up to 5* years.
- Rates starting at 5.5% (5.80% APR) for loan terms up to 10** years.
- Closing fees apply.
APR based on a loan of $50,000 over 5* or 10** years.
- An eligible improvement must be a modification to an existing building that is primarily intended to reduce energy consumption for the benefit of a nonprofit entity.
- Must have a useful life that is greater than its simple payback period.
- Must have a simple payback period that is no less than two (2) years and no greater than ten (10) years.
- Completed loan application.
- Articles of Organization, Bylaws, Certificate of Incorporation, Borrowing Resolution.
- Two years financials and/or tax returns for business.
- Copy of ID for authorized signor.
- Copy of the Federal 501(c)(3) Exemption.
- Written consent from property owner for tenant to do work on the property (if owner is not the loan applicant).
- Estimate(s) for the proposed work to be done.
This project was made possible by a grant from the U.S. Department of Energy and the Minnesota Department of Commerce through the American Recovery and Reinvestment Act of 2009 (ARRA).