Member loan program available
Are you looking to make improvements to increase energy efficiency in your home or business? If so, Burke-Divide Electric Cooperative has a loan program that may be able to help.
Our Member Loan Program is a low-cost way to finance home and business improvements with energy efficiency in mind. These loans can be used toward energy-efficiency and energy conservation projects in existing homes and businesses or new construction. Eligible projects include electric heating, air conditioning, heat pumps, major appliances, electric crop drying, windows, siding and insulation.
Funds are available to current BDEC members. Members applying for a member loan must receive electric service from the co-op at the location where the energy-efficiency upgrades will be installed and have excellent credit with the co-op to qualify.
Members interested in a member loan must complete and submit a loan application to the co-op. Loan applications are reviewed by management and approved or denied based on information contained in the application and payment history with BDEC.
Qualifying members may borrow up to $10,000 for energy-efficiency improvements to their home or business. The interest rate is set at the Federal Prime Interest rate on the day the loan is issued. Approved applicants can choose up to 60 months financing with payments automatically added to their electric bill each month.
Give Heidi a call if you are looking to improve your home’s energy-efficiency and are interested in taking advantage of our member loan program to finance your project.
Until next time,
Jerry King
General Manager