5 Business Assistance Programs – GRANTS & ZERO PERCENT LOANS
Local businesses, the incentive programs below are for you and can be layered to improve your building’s heating/cooling systems and more!
Local Grants to Improve HVAC Systems
City Revolving Loan Fund – ZERO percent interest rate
County – SEMMCHRA GRANT/LOAN Program
County/State – PACE Loan Program
USDA REAP GRANT Program
Detailed program descriptions:
1. City Grant: In response to the COVID-19 pandemic, the City of Wabasha is launching a program to help small, local businesses prevent, prepare for, and respond to the Coronavirus by making COVID-19 related improvements to their buildings and businesses, such as HVAC improvements that improve air circulation. Grant awards up to $19,000, guidelines and applications are found on the Port’s HVAC Replacement Program Webpage (Application deadline – January 17, 2022.)
2. City Revolving Loan: Zero percent interest, To obtain the loan fund guidelines and application, scroll down this page to review details under PORT AUTHORITY REVOLVING LOAN FUND. Program’s interest rate is subject to change in March of 2022.
3. SEMMCHRA GRANT/LOAN Program: Deferred loan to grant program to assist commercial property owners with building rehab projects. The funds can be used to improve the front façade, increase energy efficiency, improve accessibility, and address code-related issues. Contact Karen DuCharme, firstname.lastname@example.org
4. PACE LOAN: No upfront cost – PACE brings value to Minnesota commercial building owners by improving their bottom line. PACE can cover 100 percent of all project costs. Going forward, payments with low interest are repaid through a special property tax assessment with terms up to 20 years. As a result, projects become cash positive with financial savings outweighing financial burden. To learn more about PACE financing nationwide, go to pacenation.org.
5. USDA: Agricultural producers and rural small businesses are eligible applicants for loan guarantees and grants to develop renewable energy systems and to make energy efficiency improvements. Interested applicants are encouraged to contact their local USDA Rural Development State Energy Coordinator well in advance of the application deadlines to discuss their project and ask any questions about the REAP program or the application process.
For an overview of the program, go here: REAP program (March 2022 Deadline)
Contact Cathy Enerson, Port Authority staff, at email@example.com with questions, or Tyler Grabau at firstname.lastname@example.org, to submit an application.