The Energize Delaware Home Energy Loan program is for qualifying Delaware homeowners looking to finance energy-saving home improvements. The low-cost loan helps Delawareans make their home energy efficient while minimizing out-of-pocket costs. As a participating contractor in the HPwES program, you will also want to become a participant for the following reasons:
- It’s an easy sell.
The loan program is an affordable option when explained to the customers correctly. Check out the list of details below to use as selling points:
- Special 5.99% unsecured (no collateral or lien) financing (most banks will require a lien on the home or collateral for a much higher interest rate)
- Loan amount from $1,000-$30,000 (customer can get more done at once to increase savings and comfort)
- Up to 10 years to repay (customer can set smaller payments if on a fixed income)
- No prepayment penalty (customer can pay back if they come into additional money without a charge)
- Easy to apply online with quick turnaround
- It’s easy to receive payment.
This loan program is designed to pair seamlessly with the HPwES program. The eligible projects covered by the loan are the same as HPwES's rebate-eligible projects. Once the customer's terms are determined and the loan approved, payment is given directly to the contractor. The contractor is not charged a fee for this service, and all funds are deposited directly into a checking or savings account. The customer can apply for the loan online and be approved within a few business days.
- It's easy to start up.
Before a loan can be approved for a contractor to receive payment, the contractor must be a participant of the loan program. This can be done by applying online at http://greengrantdelaware.com/contractor-reg/. The contractor will provide basic company and banking information. There is a one-time $100 fee, and this is the only fee associated with the program. After the registration is sent, the contractor will be asked to provide a copy of their Delaware state business license to email@example.com. The contractor will be notified within a couple business days if they are added to the list of participating contractors.