Commercial Energy Efficiency Loan
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About the Loan
- No prepayment penalty.
- Loan amounts up to $100,000.
- Loan terms up to 10 years.
- An eligible borrower is 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.
- All existing commercial properties located in the State of Minnesota are eligible.
Subject to change at any time. APR based on loan amount of $100,000.
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Based on current rates. Qualifications apply.
- Rates starting at 5% (5.48% APR) for loan terms up to 5* years.
- Rates starting at 6.5% (6.76% APR) for loans terms up to 10** years.
- Closing costs apply for all loans.
- All loans must be personally guaranteed and/or secured with a mortgage.
APR based on a loan of $50,000 over 5* or 10** years.
Improvements including, but not limited to:
- Lighting technology upgrades
- HVAC controls and upgrades
- Solar photovoltaic systems
- Refrigeration equipment replacement and upgrades
- EV charging stations
- Articles of Organization, Bylaws, Certificate of Incorporation, Borrowing Resolution.
- Two years financials and/or tax returns for 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.
- Copy of ID for authorized signor.
The current loan terms and conditions stated, including interest rates, do not constitute a commitment to lend or offer to enter into agreement, Such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).