Skip to main navigation.

Loans

Available for the Installation of Electric Energy Star Heat Pumps:

The five percent loan is available upon application from the member and approval by Central Electric's Board of Directors. The maximum loan amount is the lesser of $20,000 or 80% of the cost of installation for a period of up to 84 months. Collateral for the loan is required to be mortgage on the property. Minimum monthly payment is $50 plus interest.

       
$1,000 $57.78 18 $1,040.04
$2,000 $55.61 39 $2,171.13
$3,000 $56.61 60 $3,396.60
$4,000 $56.54 84 $4,749.36
$5,000 $70.67 84 $5,936.28
$6,000 $84.80 84 $7,123.20
$7,000 $98.94 84 $8,310.96
$8,000 $113.07 84 $9,497.88
$9,000 $127.21 84 $10,685.64
$10,000 $141.34 84 $11,872.56

For example: If you wish to receive a $5,000 loan for 84 months, your monthly payment necessary to pay back the loan at 5% interest would be $70.67. Actual payments depend on the amount borrowed and number of months of amortization.

 

 

Powered by Touchstone Energy Cooperatives Logo
Coop Connections Card - Show It and Save Kids Energy Zone Rural Electric Economic Development (REED Fund)