The Michigan Small Business P2 Loan Program offers low-interest loans to small businesses for projects ranging from waste reduction to water and energy conservation. The program is open to independent for-profit businesses with 500 employees or fewer, and for projects that cause a significant increase in the energy efficiency of the business. To apply, applicants should seek a banking lender that will finance half the cost of the project. The bank can charge a competitive interest rate, as long as the weighted average of the interest rate of the entire project does not exceed 5%. Following development of a qualifying project and finding a lender, applicants can submit an application, available from the program website above.
| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Michigan |
| Incentive Type: | Loan Program |
| Web Site: | http://www.michigan.gov/deq/0,1607,7-135-3307_3515_4144---,00.html |
| Administrator: | Department of Environmental Quality |
| Start Date: | |
| Eligible Renewable/Other Technologies: |
|
| Maximum Loan: | $300,000 |
| Loan Term: | 5% interest rate or less |
| Name: | Karen Edlin |
| Address: |
525 West Allegan Street Lansing MI 48909-7973 |
| Phone: | (517) 373-0604 |
| Email: | edlink@michigan.gov |
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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