The Minnesota Pollution Control Agency (MPCA) is offering small businesses the opportunity to apply for zero-interest loans through its Small Business Environmental Loan program. With $2 million in available funding, these loans are designed to help small businesses purchase or upgrade capital equipment that helps the company meet or exceed environmental regulations, or to cover costs of investigating and cleaning up contaminated sites.
The program provides loans ranging from $1,000 to $75,000, with a repayment term of up to seven years. A key feature is its zero percent interest rate. Funds will be awarded on a rolling basis throughout the year, so early applications are encouraged.
The loan program is not intended for energy-efficiency projects, such as vehicle purchases or lighting and HVAC upgrades.
Eligibility Criteria
To qualify for the loan, businesses must:
- be an existing small business, such as a corporation, sole proprietorship, partnership, or association
- employ fewer than 100 full-time employees
- have an after-tax profit of less than $500,000
- demonstrate the ability to repay the loan
More information about the loan program, including how to apply, is available on the MPCA’s official Small Business Environmental Improvement Loans web page.