Subdivision 1. Establishment. A small business environmental-improvement revolving loan program is established to provide loans to small businesses for the purpose of capital equipment purchases that will meet or exceed environmental rules and regulations or for investigation and cleanup of contaminated sites. The small business environmental-improvement revolving loan program replaces the small business environmental loan program in Minnesota Statutes 1996, section 116.991, and the hazardous waste generator loan program in Minnesota Statutes 1996, section 115B.223.
Subd. 2. Eligible borrower. To be eligible for a loan under this section, a borrower must:
(1) be a small business corporation, sole proprietorship, partnership, or association;
(2) be a potential emitter of pollutants to the air, ground, or water;
(3) need capital for equipment purchases that will meet or exceed environmental regulations or need capital for site investigation and cleanup;
(4) have less than 100 full-time equivalent employees; and
(5) have an after tax profit of less than $500,000.
Subd. 3. Loan application and award procedure. The commissioner of the Pollution Control Agency may give priority to applicants that include, but are not limited to, those subject to Clean Air Act standards adopted under United States Code, title 42, section 7412, those undergoing site investigation and remediation, those involved with facility wide environmental compliance and pollution prevention projects, and those determined by the commissioner to be small business outreach priorities. The commissioner shall decide whether to award a loan to an eligible borrower based on:
(1) the applicant's financial need;
(2) the applicant's ability to secure and repay the loan; and
(3) the expected environmental benefit.
Subd. 4. Screening committee. The commissioner shall appoint a screening committee to evaluate applications and determine loan awards. The committee shall have diverse expertise in air quality, water quality, solid and hazardous waste management, site response and cleanup, pollution prevention, and financial analysis.
Subd. 5. Limit on availability. Numbers of applications accepted, evaluated, and awarded are based upon the available money in the small business environmental-improvement loan account.
Subd. 6. Loan conditions. A loan made under this section must include:
(1) an interest rate that is at or below one-half the prime rate, not to exceed five percent;
(2) a term of payment of not more than seven years; and
(3) an amount not less than $1,000 or exceeding $75,000.
1997 c 216 s 117; 1Sp2019 c 4 art 3 s 103,104
Structure Minnesota Statutes
Chapters 114C - 116I — Environmental Protection
Chapter 116 — Pollution Control Agency
Section 116.011 — Pollution Report.
Section 116.02 — Pollution Control Agency; Creation And Powers.
Section 116.03 — Commissioner.
Section 116.04 — Executive Secretary.
Section 116.061 — Air Pollution; Emissions And Abatement.
Section 116.07 — Powers And Duties.
Section 116.071 — Cause Of Action For Abandoning Hazardous Waste On Property Of Another.
Section 116.0711 — Feedlot Permits; Conditions; County Grants.
Section 116.0712 — Modified Level One Feedlot Inventory.
Section 116.0713 — Livestock Odor.
Section 116.0715 — Limit On Basis For Action.
Section 116.0716 — Rule Variance.
Section 116.0717 — Minerals Deposition.
Section 116.072 — Administrative Penalties.
Section 116.073 — Field Citations.
Section 116.074 — Notice Of Permit Conditions To Local Governments.
Section 116.075 — Hearings And Records Public.
Section 116.081 — Prohibitions; Air Contaminant And Waste Facilities And Systems.
Section 116.082 — Burning Leaves; Local Ordinances.
Section 116.091 — Systems And Facilities.
Section 116.10 — Policy; Long-range Plan; Purpose.
Section 116.101 — Hazardous Waste; Control And Spill Contingency Plan.
Section 116.11 — Emergency Powers.
Section 116.12 — Hazardous Waste Administration Fees.
Section 116.125 — Notification Of Fee Increases.
Section 116.14 — Hazardous Waste Facilities; Liability Of Guarantor.
Section 116.155 — Remediation Fund.
Section 116.16 — Minnesota State Water Pollution Control Program.
Section 116.163 — Agency Review; Financial Assistance And Bids.
Section 116.165 — Inspection Responsibility.
Section 116.17 — Minnesota State Water Pollution Control Bonds.
Section 116.18 — Water Pollution Control Funds; Appropriations And Bonds.
Section 116.182 — Financial Assistance Program.
Section 116.202 — Coal Tar Sealant; Use And Sale Prohibited.
Section 116.21 — Nutrients In Cleaning Agents And Water Conditioners; Control; Statement Of Policy.
Section 116.23 — Prohibition And Restrictions.
Section 116.26 — Restoring Seized Items.
Section 116.27 — Additional Prohibition.
Section 116.28 — Lists Required.
Section 116.32 — Order To Refrain.
Section 116.33 — Proof Of Offense.
Section 116.34 — Time Limited For Proceedings.
Section 116.35 — Trial Of Offenses.
Section 116.37 — Pcb; Prohibited Use.
Section 116.385 — Trichloroethylene; Ban.
Section 116.39 — Ozone Layer; Preservation.
Section 116.41 — Waste And Waste Facilities Training And Certification.
Section 116.42 — Acid Deposition; Legislative Intent.
Section 116.43 — Acid Deposition Defined.
Section 116.44 — Sensitive Areas; Standards.
Section 116.454 — Monitoring Program.
Section 116.48 — Notification Requirements.
Section 116.482 — Petroleum Release; Notification.
Section 116.49 — Environmental Protection Requirements.
Section 116.491 — Tank Installers; Training And Certification.
Section 116.492 — Basement Storage Tanks; Removal.
Section 116.731 — Requirements To Recycle Cfc's.
Section 116.732 — Requirement To Recycle Fire Extinguisher Halons.
Section 116.733 — Medical Device Exemption.
Section 116.734 — Uniform Cfc Regulation.
Section 116.735 — Training And Certification.
Section 116.78 — Waste Management.
Section 116.79 — Management Plans.
Section 116.80 — Transporting Infectious Waste.
Section 116.801 — Incinerating Infectious Waste; Permit Required.
Section 116.802 — Incinerating Infectious Waste; Environmental Impact.
Section 116.82 — Authority Of Local Government.
Section 116.835 — Safe Sharps Management.
Section 116.84 — Monitors Required For Pcb Incinerators.
Section 116.85 — Monitors Required For Other Incinerators.
Section 116.875 — Authorized Management Methods.
Section 116.88 — Prohibited Methods Of Management.
Section 116.885 — Recycling And Treatment.
Section 116.91 — Citizen Reports Of Environmental Violations.
Section 116.915 — Mercury Reduction.
Section 116.92 — Mercury Emissions; Reduction.
Section 116.921 — Multistate Clearinghouse.
Section 116.925 — Electric Energy; Mercury Emissions Report.
Section 116.93 — Lamp Recycling Facilities.
Section 116.931 — Wheel Weights And Balancing Products; Lead And Mercury Prohibition.
Section 116.9401 — Definitions.
Section 116.9402 — Identifying Chemicals Of High Concern.
Section 116.9403 — Identifying Priority Chemicals.
Section 116.9405 — Applicability.
Section 116.9406 — Donations To The State.
Section 116.9407 — Participating In Interstate Chemicals Clearinghouse.
Section 116.97 — Small Business Air-quality Compliance Assistance Program.
Section 116.98 — Ombudsman For Small Business Air-quality Compliance Assistance Program.
Section 116.99 — Small Business Air-quality Compliance Advisory Council.
Section 116.993 — Small Business Environmental-improvement Loan Program.
Section 116.994 — Small Business Environmental-improvement Loan Accounting.