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Energy Loan Network
Energy Loan Network
Lender:
Energy Loan Network
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.
Energy Project Lease Financing was created by The Energy Network to provide capital to public agencies in the form of an equipment lease to fund energy-saving projects. At the end of the equipment lease, the agency may either own the system outright or have the option to purchase it. Energy Project Lease Financing provides public agencies with access to multiple funding institutions who competitively bid on their project.
Energy Project Lease Financing was created by The Energy Network to provide capital to public agencies in the form of an equipment lease to fund energy-saving projects. At the end of the equipment lease, the agency may either own the system outright or have the option to purchase it. Energy Project Lease Financing provides public agencies with access to multiple funding institutions who competitively bid on their project.
Verified by Lender on: 9/19/2016
9/21/2016
9/21/2016
Types of Financing
Financing & Payment Information
Term (years):
5 - 15
Minimum Amount:
$250,000
Maximum Amount:
$0
Fees:
None
Money Down Required:
No
Repayment Method:
Off-bill loan (Direct to Lender)/Off-bill lease (Direct to Lender)
Payment Frequency:
Monthly
Pre-Payment Penalty:
Yes
Allowable Projects
Funds Energy Efficiency projects
Funds Water Efficiency projects
Funds Renewable Energy projects
Funds Demand Response projects
Funds other energy projects - For example, some financing may be primarily for energy efficiency projects; however, it may allow 30% of the financing to fund other water efficiency or renewable 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.
Funds other non-energy projects - Some financing may allow funding for non-energy projects, such as a kitchen or bath remodel, or seismic upgrades.
Other Program Requirements
Contractors
Must be program-approved
Financing Approval Time
Immediate / More than 48 hours
Equity in Property Needed
No
Financial Products
| Lien type | Loan with UCC-1 lien |
| 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) | |
| One-time fees (fixed) | |
| Ongoing fees | |
| Financing Amount | $5,000 - $75,000 |
| Financing Term (yrs.) | 8 year(s) |
| Rate | 4.99% |
| Money Down Required? | No |
| Credit Enhancement Available | Yes - Lower APR |
| Transferrable | No |
| Prepayment Penalty or Fee | No |
| Tax Deductibility | No |
| Minimum Credit Score Required | |
| Equity in Property Required | No |
| Debt to Income Ratio Required | Yes |
| Involuntary Property Liens Allowed | Yes |
| Foreclosures Allowed | |
| Bankruptcies Allowed | |
| Mortgage Lender Consent/ Acknowledgement | No |
| Must be current on property taxes | Yes |
| Must be current on mortgage | Yes |
| Loan to value | |
| Debt Service Coverage Ratio | No |
| Financing Approval Time | Immediate |
| Projected Energy Savings/Cash Flow is considered | No |
| Must be current on utility bill | No |
| Lien type | Lease |
| Re-Payment Method | Off-bill lease (Direct to Lender) |
| Property Types | |
| Automatic payment option available | N.A. |
| Requires utility incentive program participation | No |
| Must use Program's pre-approved contractors | No |
| One-time fees (% of total financing) | |
| One-time fees (fixed) | |
| Ongoing fees | |
| Financing Amount | $250,000 + |
| Financing Term (yrs.) | 5 - 15 year(s) |
| Rate | 3.5 - 4.5% |
| Money Down Required? | No |
| Credit Enhancement Available | No |
| Transferrable | No |
| Prepayment Penalty or Fee | Yes |
| Tax Deductibility | No |
| Minimum Credit Score Required | |
| Equity in Property Required | No |
| Debt to Income Ratio Required | Yes |
| Involuntary Property Liens Allowed | No |
| Foreclosures Allowed | |
| Bankruptcies Allowed | |
| Mortgage Lender Consent/ Acknowledgement | No |
| Must be current on property taxes | No |
| Must be current on mortgage | No |
| Loan to value | |
| Debt Service Coverage Ratio | No |
| Financing Approval Time | More than 48 hours |
| Projected Energy Savings/Cash Flow is considered | Yes |
| 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.