Adams Electric offers financing for energy-efficient and alternative generation projects through the National Cooperative Bank (NCB).
For more loan or rate information, please contact NCB Vice President Brittney Baldwin (866-499-3517) or by email, or visit www.ncb.coop/bbaldwin.
To APPLY for a loan, click here.
| Loan Purpose |
Financing for residential members of the electric cooperative for improvement projects at a resident's home or on the resident's real estate including:solar distributed generation (behind the meter solar panels); battery storage (not limited to Tesla Power Wall); gen-sets (generators and water pumps); appliances (hot water heaters, furnaces, kitchen appliances, heat pumps, etc.); energy efficiency (insulation, roofs, windows, weather stripping, doors, lighting, etc.); HVAC systems (geo-thermal heat pump systems, furnaces, AC units, conversions, etc.); and, any other purposes approved by NCB. |
| Loan Type |
Consumer Loan |
| Loan Amount |
Unsecured: Minimum loan size $3,000; Maximum loan size $30,000 Secured: Minimum loan size $3,000; Maximum loan size $100,000 |
| Loan Term | 5 to 8 years available (up to the useful life of the product) |
| Minimum Credit Score | 700 or 680 with 2 months of reserves required |
| Total Available | 100% of the project cost |
| Debt to Income | 43% based on gross monthly income |
| Eligible Property Type | Primary Residence Only |
| Bankruptcy History | None in previous five years |
| Collateral/Lien Perfection |
Unsecured: N/A Secured: Lien on filing energy equipment |
| Origination Fee |
Unsecured: $0 Secured: $150, due at signing |
| Prepayment Penalty | None |
| Loan Pay-Off | Repayment upon the sale of residence or at loan maturity |
| Loan Funding | 100% directly paid to the consumer |
| Billing | Direct to consumer billed by NCB |
| Underwriting | Income verification required |
| Documentation |
Pre-closing: Purchase estimate/contract or serial number Post-closing: Interconnection certificate (if required) |