Energy Resource Conservation Loan
Borrow for insulation, windows, heat pumps and other energy-saving improvements to your home or business as a Mor-Gran-Sou Electric member.
Beskrivningen av den här finansieringen finns för närvarande på engelska.
The cooperative lends money for energy conservation improvements, including caulking, weather-stripping, insulation, doors and storm doors, windows and storm windows, heat pumps, electric heating and cooling systems, electric water heaters, attic fans and load-control devices.
Members can ordinarily borrow $3,000. For electric heat installations, borrowing can rise to $10,000 with board approval. The interest rate is 5%, and repayment can run for up to 84 months. You repay the loan through your monthly electric bill, in equal monthly instalments beginning the month after the loan money is advanced.
Eligibility
- You must be a Mor-Gran-Sou Electric member making energy conservation improvements to your home or business. The cooperative serves parts of Morton, Grant and Sioux counties in North Dakota, including the Mandan area.
- Electric heat borrowing up to $10,000 requires board approval. For any loan above $5,000, you must offer collateral covering 100% of the loan: assets securing the full amount borrowed.
- The application is for credit assessment. You must disclose all debts, provide employment, income and financial information, certify that your statements are true and complete, and authorize the cooperative to contact employers, creditors, credit references and bank references.
How to apply
- Status
- Öppet löpande
- Villkor för ansökningsomgången
- For cooperative members; credit assessment applies. Electric heat borrowing up to $10,000 requires board approval.
Complete the cooperative’s loan application with the amount, term and full purpose of your proposed borrowing, any collateral, and the requested financial information and references. Sign the certification and authorization for financial checks.
Apply to Mor-Gran-Sou Electric Cooperative using the linked form. The application lists PO Box 297, Flasher, ND 58535 and telephone numbers 701-597-3301 or 1-800-750-8212 for the lender.