Energy Savings Fund for Nonprofits
Nonprofit organizations that are interested in reducing their energy use are now eligible to apply for funds that CEE and the Minnesota Division of Energy Resources have allocated to help finance energy-efficient projects implemented on properties owned and/or occupied by nonprofit entities.
Thanks to local partnerships, we offer special programs and incentives for several Minnesota cities and neighborhoods. Call Steve at 612-335-5851 to make sure you get the best deal for your area.
- Interest Rate: 3.9%
- Maximum Loan: $25,000
- Maximum Term: 7 years
- Income Limit: None
- Fees: None
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.
- 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
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 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)