Pollution Prevention Assistance Loan

Progressive businesses tend to be leaders in pollution prevention. They use raw materials, water, energy, and other resources efficiently. They find alternatives to hazardous materials. And they minimize toxins in production processes.

When you’re ready to kick off a pollution or energy initiative, we can help you secure a loan to finance it through the state’s Pollution Prevention Assistance Account Program. Our in-house advisors can prepare your company for the application process, clarify terms and conditions, and review allowable uses of funds. The program is limited to equipment purchases or process changes designed to:

• Conserve energy and raw materials by reducing or reusing raw materials on site
• Reduce disposal and handling costs by reducing waste production at the source
• Lessen the costs of regulatory compliance and liability by reducing energy consumption

Loan details

For-profit businesses with 100 or fewer employees

Minimum $100,000, or 75 percent of total project costs, whichever is less

One percent of proposed loan, $250 minimum

Loans are secured by lien positions on the assets being financed, and the company guarantee. Additional personal guarantees may be required.

Up to ten years, or the life of the asset, whichever is less

Fixed at two percent.

• To the DEP: a determination-of-eligibility application, including general company information and a description of the proposed project and its projected financial and environmental benefits
• To the DCED: the eligibility letter you receive after gaining DEP approval, plus a completed DCED financial application