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Santa Cruz Community Credit Union's Solar Power Loans

Santa Cruz Community Credit Union's Solar Power Loans
Lender: Santa Cruz Community Credit Union
Contact Information
Property Types
Program Description
The Energy Loan Network offers low interest financing for homeowners who want to complete energy projects. Financing is offered through contractors who are approved by the Energy Loan Network. However, if you have your own contractor, it is quick and easy to get them approved.
Verified by Lender on: 09/19/2016
Types of Financing
Secured
Financing & Payment Information
Term (years):
8
Minimum Amount:
$5,000
Maximum Amount:
$75,000
Fees:
None
Money Down Required:
No
Repayment Method:
Off-bill loan (Direct to Lender)
Payment Frequency:
Monthly
Pre-Payment Penalty:
No
Allowable Projects
Funds Energy Efficiency projects
Funds Water Efficiency projects
Funds Renewable Energy projects
Funds Demand Response projects
Funds other energy-related projects - For example, some financing may also allow funding for projects in relation to installing the approved product, such as mold or asbestos remediation.
Other Program Requirements
Contractors
Must be program-approved
Financing Approval Time
Immediate
Equity in Property Needed
No

Financial Products

Lien type Unsecured UCC-1 (equipment collateral)
Re-Payment Method Off-bill loan (Direct to Lender)
Property Types
Automatic payment option available Yes
Requires utility incentive program participation No
Must use Program's pre-approved contractors Yes
One-time fees (% of total financing) No
One-time fees (fixed) No
Ongoing fees No
Financing Amount $5,000 - $75,000
Financing Term (yrs.) 8 year(s)
Rate 4.99%
Money Down Required? No
Credit Enhancement Available Lower APR
Transferrable Yes
Prepayment Penalty or Fee No
Tax Deductibility No
Minimum Credit Score Required Yes: 650
Equity in Property Required No
Debt to Income Ratio Required Yes
Involuntary Property Liens Allowed Yes
Foreclosures Allowed Yes: More than 5 years ago
Bankruptcies Allowed Yes: More than 5 years ago
Mortgage Lender Consent/ Acknowledgement No
Must be current on property taxes Yes
Must be current on mortgage Yes
Loan to value No
Debt Service Coverage Ratio No
Financing Approval Time Immediate
Projected Energy Savings/Cash Flow is considered No
Must be current on utility bill No

Upgrades Covered

No Results

FAQ's

Through our Contractor Marketplace, you can search for contractors and find the right fit for your project. You find out details about the contractor such as what types of certifications they have and where they are located. You can also directly find reviews when available. From there it is easy to connect and get started with your projects. A quality installation of equipment increases the benefits and efficiency of your new equipment.