Small businesses in Twin Cities can reduce energy costs and save money with innovative Clean Energy Loan Program
Minnesota Climate Innovation Finance Authority $1.5 million revolving loan to Neighborhood Development Center supports NDC’s Clean Energy Loan Program, primarily to serve BIPOC and immigrant-owned businesses

July 14, 2026 (SAINT PAUL, MN) – The Minnesota Climate Innovation Finance Authority (MnCIFA) has provided a $1.5 million revolving loan to the Neighborhood Development Center (NDC) for its Clean Energy Loan Program. Small businesses across the Twin Cities can tap into the Clean Energy Loan Program to get loans between $5,000 to $250,000 for projects to reduce their energy use and costs of energy.  NDC will extend the financing primarily to Black, Indigenous, People of Color and immigrant-owned businesses in environmental justice communities, which are neighborhoods that historically lacked access to capital for financing businesses.  

“For many small businesses, rising energy costs are a significant burden. NDC’s Clean Energy Loan Program will help lower energy bills for small businesses, particularly BIPOC- and immigrant-owned businesses that are constantly facing new challenges,” said NDC President and Chief Executive Officer Renay Dossman. “We are excited to support entrepreneurs who are taking steps to lower energy costs, strengthen their businesses, and contribute to a healthier future for our neighborhoods.”

MnCIFA Executive Director Kari Groth Swan said, “This financing demonstrates how targeted investment can unlock real opportunities for small businesses to reduce their energy costs, which in turn benefits neighborhoods served by those businesses. By working with NDC, we are financing projects that reduce energy costs, strengthen local economies and expand access to clean energy solutions for communities across the Twin Cities.”

What energy projects will NDC finance?  

NDC is partnering with the Small Business Equitable Energy Decarbonization Initiative (SBEEDi) and Energy Smart services at the Minnesota Chamber of Commerce Environmental Sustainability Foundation to implement its Clean Energy Loan Program.  

Through SBEEDi and Energy Smart small businesses can receive technical assistance in energy-saving strategies, free energy assessments, and custom efficiency plans on projects to save energy and reduce energy costs. Financing with NDC’s revolving loan can support a wide range of energy-related projects, such as:

• Energy-efficient equipment, including HVAC systems, efficient lighting, or refrigeration  
• Building retrofitting for energy efficiency  
• Installation of solar, energy storage or other renewable energy  
• Electric vehicles for the business    

How can small businesses* apply for NDC’s Clean Energy Loan Program? 

• Small businesses can receive education, services and financing through NDC, which has over 30 years of experience as a nonprofit in providing entrepreneurs training and lending and is a U.S. Department of Treasury-Certified Community Development Financial Institution.  
  • Clean Energy Loan Program info:  ndc-mn.org/clean-energy-loan-program  
  • Contact the NDC Lending Team: lendingintake@ndc-mn.org  
• Energy Smart offers free consults and grants for small businesses:  
  • For applications and info: mnchamber.com/your-opportunity/energy-smart  
  • Energy Smart will perform an energy audit, or assessment of energy use.  
  • Energy Smart will help businesses develop a plan for energy efficiency.  
• Businesses can also determine energy rebates they can obtain from their utility.  

*NDC defines a small business as a business with annual sales of up to $2.5 million and having 50 or fewer full-time employees.  

What are the economic impacts of energy-related investments for small businesses?  

• Energy efficiency can help reduce commercial business energy use by up to 30%, according to Energy Star, a program of the U.S. EPA.  
• Minnesota’s 2026 Energy Fact Sheet, published by Clean Energy Economy Minnesota, shows cumulative impacts of Minnesota’s transition to cleaner, more affordable, and more reliable energy, including for small businesses.  

MnCIFA was established as a state agency in 2023, as part of historic investments by the state, championed by Governor Walz and the Minnesota Legislature, to accelerate Minnesota’s transition to a clean energy future. Since 2023, MnCIFA loans have leveraged millions in federal Investment Tax Credits for clean energy projects in Minnesota and over 90% of MnCIFA’s over $30 million in lending has been invested in projects serving environmental justice communities.  

More info:  

• Neighborhood Development Center: ndc-mn.org
• Minnesota Climate Innovation Finance Authority: mncifa.mn.gov  
• Small Business Equitable Energy Decarbonization Initiative: sbeedi.org