Steps to apply

All projects considered for loans must be reviewed and approved by the MnCIFA Board of Directors. 

More about the MnCIFA Board of Directors. 

Step 1: Get to know MnCIFA 

Get started by learning about the Minnesota Climate Innovation Finance Authority:  

• Mission and history, including state law requirements

We offer flexible financing for projects meeting certain qualifications that are set in state law (More info: Minn.Stat. 216C.411)

Project qualifications include:  

• Loans (not grants) with the borrower having financial ability to repay the loan.  
• Projects located in Minnesota.  
• Minimum $250,000 loan, with options for revolving loan funds or portfolio projects encompassing a compliation of multiple, smaller-scale lending projects to exceed the $250,000 minimum.  
• Demonstrated community benefits of the project that would:  
  • Reduce energy use and/or reduce economic burden of energy costs
  • Maintain energy reliability
  • Accelerate deployment of a clean energy project
  • Create more local clean energy jobs
  • Increase Minnesotans’ ownership of and contribution to the clean energy system
  • Support achievement of statewide greenhouse gas reduction targets
  • Reduce water use, or protects, restores, preserves surface waters
• Site jobs are required to pay prevailing wage

By state law, we invest at least 40% of our loans in communities meeting qualifications for environmental justice or historically disadvantaged communities.

• More about Clean Energy for All

Strategic plan, investment strategy and lending standards:  

In addition to project qualifications in state law, MnCIFA has developed a strategic plan and investment strategy to guide our investments that has involved input from stakeholders across the state. Our lending standards provide guidance on our process for reviewing applications and due diligence for loans:  

• Strategic plan

• Investment strategy

   

Step 2: Learn about qualified projects  

We have a portfolio of projects that have qualified and received MnCIFA loans.  They show the range of our investments in the variety of energy technologies and the various geographic locations where we’re investing.  

MnCIFA follows lending guidelines in processing applications. 

Step 3: Prepare for applying  

Once you’ve learned about MnCIFA and the portfolio of projects that have qualified for MnCIFA loans, the next step would be to connect with MnCIFA staff about a specific project that you would like to discuss with us about financing.  

Complete and submit this pre-application form.

The pre-application form will help you – and MnCIFA staff – understand your proposed project and the extent MnCIFA lending could support the project. Among the questions you’ll be asked:  

• Anticipated clean energy benefits of the project.  
• Communities and individuals to be served by the proposed project.  
• Your organization’s financial status and ability to repay a loan.  
• Other partners, including other funders, that have invested in the project.  

MnCIFA staff will get back to you about next steps.  

Projects that move forward with a full application move through a process similar to a commercial loan from a traditional bank, with due diligence and detailed financials.  

A note about confidentiality of application information:  

MnCIFA protects not-public information and would not disclose protected information, such as business trade secrets, and would not disclose information that would put your organization at a competitive disadvantage.  

However, as a public financing authority, MnCIFA is transparent about projects receiving MnCIFA loans. Credit memos are presented by MnCIFA staff to the MnCIFA Board of Directors with financial information to the extent necessary for the Board to make a decision whether or not to fund the proejct. All Board of Director meetings are open to the public, as required by state law.  

MnCIFA also adheres to the State of Minnesota Data Practices Act

Questions?  Send us an email: info.mncifa@state.mn.us.