Apply for MinnPACE Loan
MinnPACE makes it possible to finance energy upgrades with confidence. Here you’ll find a step-by-step guide to the application process, along with a checklist of documents and requirements you’ll need to prepare. Unlike traditional loans, MinnPACE financing is repaid through your property tax bill, keeping repayment simple and predictable.
If you’re brand-new to PACE financing and want details on how it works, start with our overview:
Steps to Getting Funding
1. Confirm Eligibility
Use our Eligibility Quiz to see if your property and project qualify.
2. Talk with a Contractor and Lender
Secure a bid from a licensed contractor for your planned improvements and choose a lender who will review your financials, approve your loan, and assist with the MinnPACE application.
3. Prepare Your Application
Gather all documents listed in the checklist below.
4. Submit Your Application
Work with your MinnPACE lender to complete the official loan application.
5. Finalize Financing & Begin Improvements
Once approved, financing is secured and your project can move ahead.
Application Checklist
- Property information – address and parcel ID
- Current property tax statement – for property being improved
- Appraisal (As-Improved) – your loan can be up to 30% of your property’s market value, based on either the property tax statement or a professional appraisal—whichever is higher
- Petition for Special Assessment Form
- Lender Acknowledgement Form
- Energy audit – A report from a qualified professional showing projected savings in energy use, cost, or greenhouse gas emission
Additional Requirements
To qualify for and maintain a MinnPACE loan, applicants must meet these requirements:
- Applicant is the current property owner.
- Project is located within the MinnPACE service area.
- Loan amount does not exceed 30% of the property’s market value or appraisal.
- Bids for energy improvements are provided by a licensed contractor in good standing.
- Property taxes and mortgage payments are current, with no outstanding liens or judgments.
- Improvements qualify as energy efficiency, renewable energy, or resiliency upgrades.
- Property type is eligible – commercial, industrial, multi-unit housing, agricultural, nonprofit, or faith-based organizations.*
*Organizations that don’t pay property taxes still qualify. PACE appears as a special assessment on the tax bill, and an appraisal will be required.