Cooperative Light and Power Revolving Loan Fund
Financing
Services: Incentive and Financial Resource Programs
Contact: Steve Wattnem, General Manager
Address: 1554 Hwy 2 PO Box 69, Two Harbors, MN 55616
Phone: 218.834.2226
Email: swmngr@clpower.com
Description:The Cooperative Light and Power Revolving Loan Fund is available to business in the CLP service area, which includes Lake County and part of St. Louis County.
Eligible applicants: Non-profits entities, public bodies, and all business types excluding conventional agriculture.
Eligible use of proceeds:
- Land and building acquisition
- Land improvements
- New building construction
- Building renovation
- Machinery and equipment
- Working capital
- Inventory purchase
- Sewer and water improvements
Terms:
$1,000 – $200,000
0.5% below prime
Max. 10 year term
Max. 50% project cost