PACE Loans
The Easy Way to Finance Energy Savings
MinnPACE is unlike traditional loans, it is paid back through a voluntary property tax assessment. That means your payments are rolled into your property taxes and paid twice a year. With up to 100% financing available, including both hard and soft costs, MinnPACE makes it easier to start projects that reduce energy bills, putting savings in your pocket.
Why MinnPACE Works for You
Looking for financing that won’t stretch your Budget? Learn how to cover your project costs, at a fixed rate, and defer payments.
Secured by the property.
Get up to 100% financing.
Start payments later.
Lock in a fixed interest rate.
Keep it off your balance sheet.
Share the cost with tenants.
Use it in your capital stack.
Save energy and money.
Rates and Loan Amount
MinnPACE is an open competitive market, anyone can be a PACE lender.
Rates: Rates vary by lender ( more affordable than mezzanine debt)
Term: Useful life of the improvement, no more than 30 years.*
*Some lenders have more restrictive term
Is Your Project Eligible?
Here’s what you need to know:
Eligible Property Types
Commercial Properties, Industrial Properties, Multi-unit Housing, Non-profits and Faith-Based Organizations, Agricultural Properties
Eligible Improvements
Energy Efficiency, Renewable Energy, Water Conservation & Quality, Resiliency Measures, Electric Vehicle Charging Infrastructure.
Eligible Projects
PACE financing can be applied to various project scopes, including, Retrofits, Gut Rehabs, New Construction, Retroactive Projects.
Loan amount
Financing can be up to 30% of the property’s value or appraisal.
Energy Audit Required
Project saves energy or reduces greenhouse gas emissions. (Energy audit, renewable energy system feasibility study, resiliency improvement study, or water improvement study is required).
Consent Required
All mortgage lenders must sign the Lender Acknowledgement Form.
Quick Eligibility Check
It only takes about 3 minutes to see if your property qualifies for MinnPACE financing.
What to Expect with MinnPACE Fees
MinnPACE financing can include up to 100% of eligible project costs, and any program fees may be rolled into the loan amount. A nominal closing fee is charged at the start of the project, and an administrative fee covers the cost of servicing the loan. Fee structures vary depending on project size, but are designed to be transparent and affordable.