Small Business P2 Loan Program (Michigan)

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Summary

Last modified on May 23, 2011.

Financial Incentive Program

Place Michigan

Name Small Business P2 Loan Program
Incentive Type State Loan Program
Applicable Sector Commercial, Industrial, Agricultural
Eligible Technologies Lighting, Lighting Controls/Sensors, Processing and Manufacturing Equipment, Custom/Others pending approval, Photovoltaics, Wind
Active Incentive No

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs











Funding Source Revolving Loan Fund




Maximum Incentive 300,000









Terms 5% interest rate or less
Program Administrator Department of Environmental Quality
Website http://www.michigan.gov/deq/0,1607,7-135-3307_3515_4144---,00.html
Date added to DSIRE 2004-06-29
Last DSIRE Review 2006-02-09



References DSIRE[1]


Summary

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.


Incentive Contact

Contact Name Karen Edlin
Department Department of Environmental Quality

Address 525 West Allegan Street
Address 2 P.O. Box 30473
Place Lansing, Michigan
Zip/Postal Code 48909-7973
Phone (517) 373-0604


Email edlink@michigan.gov
Website http://www.michigan.gov/deq
     
     

  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency (DSIRE)"