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Low Interest Loans
Access Energy Cooperative offers low interest loans called ERC Loans to members for financing energy conservation measures.
What Can You Use Them For?
ERC loans may be made to finance the cost of materials and labor for the following energy efficient measures only when supported by an energy audit of the structure in which such measures are proposed to be used:
- caulking
- weather stripping
- heat pump systems (including water source heat pumps) and water heaters
- heat pumps
- water heaters
- central heating and/or central air conditioning system replacements and modifications, which reduce oil and gas consumption, except in those cases where the primary fuel for generating electricity is oil or gas
- ceiling insulation
- wall insulation
- floor insulation
- duct insulation
- pipe insulation
- water heater insulation
- storm windows
- thermal windows
- storm or thermal door
- clock thermostats
- attic ventilation fans
New or Existing Structures Qualify
ERC loans may be made for installation of energy conservation measures to new or "Existing Structures" including residential, commercial and industrial, public buildings, and facilities and structures used in agricultural operations that are on permanent foundations and are receiving electric service from Access Energy Cooperative.
Project Requirements
ERC loans to finance the cost of energy efficient measures in residential, commercial and industrial, public buildings, and facilities and structures used in agricultural operations will be financed
- up to 80% of total cost of project
- minimum loan amount $500 per member
- maximum loan amount $10,000 per member
- additional funds would only be available if approved by the Access Energy Cooperative Board of Directors
- only one outstanding loan per member at any given time
- available on "first come, first serve" basis
- Should the owner move from the approved ERC loan location, the balance of the loan will become payable in full.
- ERC Loans will be secured by a mortgage, a Security Loan Agreement, and a financing statement. Applicants will be required to pay the fee in advance for a lien search on ERC Loans.
- applications may be obtained by written request only.
- ERC LOANS MAY NOT BE PROVIDED TO REFINANCE EXISTING OBLIGATIONS.
How to Apply
If you are interested in applying for an ERC Loan, download the two forms below, print and fill them out; then submit them to our office with the following:
- A $20 (non-refundable) filing fee for credit checking
- A legal description of the property
- An estimate of the project cost
Or call our office at (319)385-1577 or 1-866-242-4232.
Low Interest Loan Form
Low Interest Loan Credit Application
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319.385.1580 - Local
800.452.7819 - Toll-Free |
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