Financing Your New Air Conditioning or Heating Equipment Purchase

SVEC Financing

LOW FINANCING RATES FOR UP TO 10 YEARS!

Sequachee Valley Electric Cooperative (SVEC) offers heat pump financing at low interest rates and with no down payment for qualified residential members. Plus, the loan payment can be added to your monthly power bill.

The SVEC heat pump financing program includes loans for electric or dual fuel heat pumps and the labor associated with their installation, as well as ductwork installation.

Financing Facts:

• payments are added on to monthly electric statement
• a $25 processing fee is due at the time application is submitted
• the minimum loan amount is $2,500; maximum loan amount is $15,000 (for 2 units)
• the interest rate is 7% on heat pumps
• the loan repayment is up to 10 years
• no down payment is required (other than $25 processing fee)
• no penalty for early pay-off

To Qualify, Applicant must:

• be an SVEC member (name must be on electric account)
• have resided at the location for at least 12 months
• must have a good payment history with SVEC
• must own the home and the property where the heat pump will be installed (deed to land must be in applicant’s name)
• must be in good credit standing
• have a driver's license or photo ID and present it when submitting application.

Heat Pumps come in a wide range of makes, models, and efficiencies and vary considerably in price. See the https://www.svalleyec.com/how-much-will-new-heat-pump-cost for an approximate cost and monthly payment based on 120 months at 7% APR. The payment is added onto monthly electric statement and is itemized on statement.

How It Works:

1. Apply The easiest, fastest way to apply is with our on-line application, or you can print an application and mail it or drop it off at one of our offices. Applications are also available at all of our offices. We’ll have an answer for you in less than 1 business day. In an emergency, you’ll have an answer even quicker.

2. Get Estimates After approval, you’ll sign-up to participate and get a list of qualified contractors in our area. Get estimates from more than one contractor and pick one who best suits your needs.

3. Have your new unit installed! Our local, quality contractors work quickly to get your home comfortable! If you need additional duct work or an electrical upgrade, those improvements are also covered. After the job is complete, we’ll come out and double-check to make sure it’s all in proper working order and have you sign a few papers.