| Program | First Electric Cooperative - Home Improvement Loans |
|---|---|
| Category | Financial Incentive |
| Implementing sector | Utility |
| Last Update | |
| State | Arkansas |
| Administrator | First Electric Cooperative |
| Website | http://www.firstelectric.coop/products-and-services/home-improvement-loans |
| Sectors | Residential |
First Electric Cooperative, a Touchstone Energy® Cooperative, serves over 85,000 member accounts throughout parts of seventeen counties in central and southeast Arkansas. The Home Improvement Loan Program allows members to borrow between $500 and $15,000 for energy efficiency home improvements associated with heat pumps, First Electric products and portable home generators. Loan repayments can be included in your monthly electric bill.
For loans under $2500, there is a filing fee of $20; for loans over $2,500, the fee is $60. Only single-family primary residences served by FECC are eligible. Loans between $500 and $2,500 are secured with an equipment lien, and loans over $2500 are secured with a property mortgage and equipment lien. Loan program applications, specific program details, and a list of approved dealers are available on the program website.
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