Mounds View Commercial 0% Clean Water Partnership
The City of Mounds View is making financing available for commercial property owners.
The guidelines below are subject to change at any time without notice. Loan funds are subject to availability.
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About the Loan
- 0% APR.
- The business must show positive cash flow.
- Loan amounts from $5,000 to $50,000.
- For loans less than or equal to $10,000, terms up to 5 years.
- For loans greater than $10,000, terms up to 10 years.
Eligibility
- Commercial Properties located in the city of Mounds View.
- Eligible projects include but are not limited to: sewer line excavation and replacement, lining or re-lining sewer lines, water softener replacement, cleaning ponds due to city assessment and installing rain gardens.
Current Rates
Subject to change at any time. APR based on loan amount of $50,000.
| Rates starting at | Term | APR as low as | Payment example |
|---|---|---|---|
| 0% | 5 years | 0% | $16.67 |
| 0% | 10 years | 0% | $8.33 |
Calculate My Payments
Based on current rates. Qualifications apply.
Loan Details
- This loan is secured by a mortgage on the property.
- Closing costs apply.
- Funds are held in a non-interest bearing escrow account at CEE from loan closing until the work is completed and all final documentation is received.
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Eligible projects include but are not limited to: sewer line excavation and replacement, lining or re-lining sewer lines, water softener replacement, cleaning ponds due to city assessment and installing rain gardens.
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1 bid is required from a properly licensed contractor or registered with the MN Department of Labor.
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For do-it-yourself projects, a materials list including prices is required. The cost for labor and equipment purchase or rental may not be included in the loan.
- Our experience has shown that Big Box Stores are not willing to be paid on completion, which is a requirement for this program.
The current loan terms and conditions stated, including interest rates, do not constitute a commitment to lend or an offer to enter into an agreement, and that such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).
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