$10,000 Loan to Increase Energy Efficiency

The Rental Energy Loan Fund provides financial assistance to owners of residential rental properties to increase the energy efficiency of their buildings. Eligible efficient technologies are: water heaters, lighting, building insulation, heating systems, windows, doors, and comprehensive measures/whole building. It is not restricted to low-income owners, and covers a wide range of efficiency improvements for a property. Borrowers must have at least one-third interest in the property, or be purchasing it through a mortgage or contract for deed. The property must contain at least one rental dwelling unit and have been built prior to May 1, 1989. The maximum loan under this program is $10,000 and the maximum term is 5 years. The interest rate on all loans is 4.0% and there are no penalties for prepayment. Contact: Center for Energy and Environment, 212 3rd Ave North, Suite 560, Minneapolis, MN 55401; 612-335-5885; 612-335-5884 Fax: 612-335-5888; http://www.mncee.org/programs_residential/rental_rehab_financing/rental_energy_loan_fund/index.php