House votes to expand environment improvement loan program

A Pollution Control Agency program that offers low-interest loans to small businesses for capital equipment purchases meeting environmental regulations could expand to larger businesses.

Passed 123-2 by the House Monday, HF3666 would expand the small business environmental loan program’s requirements to provide loans to businesses with fewer than 100 full-time employees, instead of 50 full-time employees under current law. The bill, sponsored by Rep. Dan Fabian (R-Roseau), now goes to the Senate where Sen. Carrie Ruud (R-Breezy Point) is the sponsor.

The bill would also increase the maximum available loan from $50,000 to $75,000 and adjust interest rates to reflect current rates.