Pollution reduction is great for the environment, and it’s also great for business. Projects to slow or eliminate the creation of pollutants translate to reduced business costs, both from increased efficiency and from avoided environmental compliance costs. As an added bonus, these projects create an opportunity for public goodwill and the enhanced reputation that often comes with improving sustainability.
The Department of Environmental Quality can help, offering low-interest loans to small businesses for pollution-reduction projects.
The Small Business Pollution Prevention (P2) Loan Program has provided financing for 68 businesses during the past 16 years for practices that reduce or eliminate the creation of pollutants through increased efficiency in the use of raw materials, energy, water or other natural resources. Successful P2 projects result in better, more efficient processes that naturally create less pollution and less waste, as well as consume fewer natural resources. This means cost savings for businesses.
Any small business in Michigan that employs 500 or fewer people and is independently owned or operated is eligible to apply for a P2 loan. Small businesses can apply for loans up to $400,000 at an interest rate of 5 percent or less.
Prepared by Chad Rogers, Environmental Quality Specialist, Department of Environmental Quality, Office of Environmental Assistance. For more information, contact the DEQ at 1-800-662-9278 and ask to speak with the Small Business Pollution Prevention Loan Specialist. Or visit www.michigan.gov/deqp2loan.
The Michigan Chamber's 2013-2014 legislative priorities target six high-priority issue areas, including one to promote the wise use of natural resources. For details, contact Jason Geer, Director of Energy & Environmental Policy with the Michigan Chamber of Commerce.