Financial assistance for pollution prevention
MPCA financial assistance, both grants and loans, is matched dollar-for-dollar by the recipient. It increases use of environmentally preferable technology and education. Since P2 technologies must compete against all other needs that businesses and communities have, this assistance is used to get results that would not otherwise occur. P2 grants and loans have resulted in improved manufacturing efficiencies, reduced emissions and costs, and new businesses. It accelerates development and adoption of technologies that make Minnesota a more competitive and environmentally attractive state.
Environmental Assistance Loan Program
The Environmental Assistance Loan Program is accepting applications starting February 6, 2012, until June 30, 2013. See the Request for Proposal and forms.
For FY 2012-13, the EA Loan Program is offering two types of loans:
- Participatory loans allow for awards with a maximum of $100,000 at zero percent interest.
- Direct loans allow for awards up to $50,000 at four percent interest or one-half the prime rate, whichever is greater.
Preference will be given to small and medium-sized businesses and institutions and to projects related to pollution prevention, source reduction, recycling, and source-separated composting and practices in Minnesota. As funds are repaid, additional loans will be awarded for projects that will improve Minnesota's environmental and economic quality.
Small Business Environmental Improvement Loan ProgramSmall Business Environmental Improvement Loan Program
MPCA's Small Business Environmental Improvement Loan Program is a way for the state to help small businesses help themselves with environmental projects. The program provides low-interest loans to small businesses to finance environmental projects such as capital equipment upgrades that meet or exceed environmental regulations, and costs associated with the investigation and cleanup of contaminated sites.
Many different types of projects are eligible for loans. To qualify, projects need to involve pre-approved capital equipment purchases that meet or exceed environmental rules and regulations, or pre-approved site investigations and cleanups. Projects that were begun or completed prior to receiving approval from the MPCA through the application process are not eligible for the program.
The general terms of the loans:
- a loan amount not less than $1,000 or more than $50,000
- an interest rate of four percent or one-half the prime rate, whichever is greater at the time the loan is awarded
- a repayment term of not more than seven years
For more information, or to request an application, please contact the Small Business Environmental Ombudsman.