Partnering for Your Success
At Minnesota Valley Electric Cooperative, we’re more than your power provider, we’re your partner in growth. Whether you’re starting a new venture or expanding an existing business, we’re here to help you find opportunities that strengthen our local economy.
As part of your co-op membership, you have access to expert guidance and personalized support from our Key Accounts Team at no cost.
Explore more on our Economic Development website to see how we can help your business succeed.
USDA Rural Economic Development Loan & Grant Program
The USDA Rural Economic Development Loan & Grant (REDLG) Program offers zero-interest loans and grants to Rural Utilities Service borrowers, like MVEC, to promote job creation and rural economic growth.
Rural Economic Development Grants Program:
- Eligibility: Nonprofit entities such as schools and cities
- Grant: Up to $300,000, with a 20% match from MVEC, to capitalize a revolving loan fund
- Maximum Term: Up to 10 years
- Interest Rate: 0% (borrower pays closing costs; up to 1% annual servicing fee)
- Eligible Uses: Construction, land acquisition, equipment purchases, and more (subject to MVEC approval)
Rural Economic Development Loan Program:
- Loan: Up to $1 million; paid back directly to the USDA.
- Covers: Up to 75% of project costs (loaned to the ultimate recipient through MVEC)
- Maximum Term: Up to 10 years
- Interest Rate: 0% (borrower pays closing costs; up to 1% annual servicing fee)
- Eligible Uses: Various projects aimed at economic development and job creation and retention.
Key Considerations:
- Projects are evaluated based on job creation, employee training, and positive impact on the local economy.
- Federal compliance is required, including civil rights, wage laws, ADA, equal opportunity employment, historic preservation, and an environmental review for construction projects.
Express Energy Design Assistance Portal
Looking to make your building or construction project more energy efficient? Our Express Energy Design Assistance Portal can help you make smart, informed decisions — and it only takes about 10 minutes to get started.
How it works:
- Answer a few detailed questions about your project.
- If you’re unsure about any question, select Help, and one of our energy efficiency experts will follow up with you.
- Learn about available incentives and discover ways to save energy and costs.