City Loan Program

 Commercial Loan Program

     *Loan Maximum - $17,500
     *Loan Minimum - $1,000
     *Interest Rate - 2%
     *Maximum term - 6 years

Rehabilitation Loan Program
The City of Ely has monies available for residents for the purpose of weatherization or repairs to their homes.
     *Maximum amount of the loan will not exceed $10,000
     *The length of the loan would not exceed ten (10) years
     *Interest of the loan will be at two (2%)
     *All forms necessary for the loan can be obtained at the City Clerk's Office 
        Monday through Friday 8am to 4:30pm
     *There is a $100 "Application Fee" required at the time loan application is approved.

For income guidelines and application, please click on the links below.




Business Energy Retrofit Program (BER)
The IRRRB renewed the Business Energy Retrofit (BER) program for $750,000 at their meeting on May 19th

Please visit AEOA website (see link below) for application and information:
BER Program Link


Property Assessed Clean Energy (PACE) financing

Is your businesses, farm, multi-family housing building, nonprofit, or place of worship interested in energy efficiency or adding renewable energy like solar? A new financing tool called Property Assessed Clean Energy, or PACE, can help you move forward.

 How does PACE work? PACE financing is repaid as an assessment on your property tax bill for a set period. In this way, PACE eliminates the burden of upfront costs by providing low-cost, long-term financing. PACE is different than a traditional loan: there is less of a reliance on credit, the assessment stays with the property instead of the owner, and they can generally be repaid over longer terms than a bank might allow.

 What can you do with PACE? Examples of potential building improvements that can be financed with PACE are solar arrays, HVAC upgrades, LED lighting, condensing boilers, digital controls, insulation, variable-frequency drive motors, building automation systems, and other water and energy conservation measures.

 Who is behind PACE? The Saint Paul Port Authority provides the PACE funding and administers all aspects of the program. We place the assessment on the property, collect payments each year, and pass money back to the Port Authority.

  How can you take action? To learn more about PACE and take action, visit for program details and applications, fact sheets, success stories, and frequently asked questions.