This free service is conducted by CWP's key account representatives. They identify major energy efficiency opportunities and inform members of potential rebates.
Crow Wing Power offers commercial operations a variety of rebate incentives for special lighting, motor, refrigeration, space and water heating and other new electro-technology rebates. For instance, lighting retrofits can reduce lighting costs by up to 30-40% and rebates are available to reduce initial investments.
Some cooperative business members are able to take advantage of Crow Wing Power’s business finance programs for expansions or new businesses. Loan availability varies.
Our initial $200,000 revolving loan fund was made possible from an initial USDA Rural Utilities Service grant we lent to the City of Baxter for an industrial park expansion project. A subsequent grant from USDA in 2009 added an additional $151,000 for a medical clinic in Hackensack to our revolving loan raising our total revolving loan fund to $350,000.
In addition, Crow Wing Power has been heavily involved in gap and low interest financing for area manufacturers and retail businesses. By utilizing the RUS Rural Economic Development Loan and Grant Program, straight gap financing, and CD buy down investments, we’re proud to have been able to lend $5,264,235 to a total of 25 businesses. That investment has resulted in the retention of 274 jobs and 329 additional employment opportunities.
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