Residential And Small Business Loan Program
SSVEC members may borrow $2.00 per watt up to a maximum of 25% of the total cost of the project at an interest rate of 3%. The loan will be secured by a lien on the house or property. The loan will be repaid in equal monthly installments over five years for loans under $10,000 and ten years for loans over $10,000. There is no pre-payment penalty for paying off the loan early. There is a cap on loan amounts of 4 kW for residential systems and 10 kW for small business systems. The loan program has budget limited funds and is on a first come, first served basis.