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Energy Advance Loan Terms

Energy Advance Loan Terms

  • $500 minimum loan
  • $10,000 maximum loan amount
  • $50 final inspection fee (required) - included in loan amount
  • Seven year (84 mos.) loan limit
  • Secured with UCCI financing statement
  • $16 loan filing and release fee with county office
  • Principle can be repaid early with no penalty
  • Rates are between 9-10.5%
  • Simple interest loan with fixed rates

 

What about repayment?
The contractor will be paid once the work has been completed to the satisfaction of both the member and Berkeley Electric Cooperative.

The loan payments will be include on the member’s monthly electric bill. If the home is sold, or the title is transferred before payoff, the loan MUST be paid in full prior to the transaction.

 

 

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