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What is the Energy Efficiency Loan Program? In collaboration with Regions Bank, West Florida Electric Cooperative's (WFEC) Energy Efficiency Loan Program offers low-interest loans to qualifying members to help cover the cost of certain home energy improvements.

What improvements are eligible for financing? The Energy Efficiency Loan Program helps members pay for home improvements including:
• Windows
• Exterior doors
• Air Sealing
• Heat pump purchase, installation and tune-up
• Exterior wall, floor, attic and perimeter insulation (foam and cellulose only)
• Duct repair or replacement
• Attic ventilation
• Heat pump water heater purchase and installation
• Water heater blanket and pipe insulation
• Manufactured home skirting

What is the process?
1. Contact us at (800) 342-7400 and ask about the Energy Efficiency Loan Program
2. We'll come to your home and conduct an energy audit to identify areas of improvement.
3. You'll complete the simple loan application by calling Regions Bank at (800) 475-2908.
4. If approved, you'll hire a licensed contractor to make the improvements.
5. Once improvements are complete, contact us so we can conduct a final inspection to certify the work is complete.
6. Regions Bank will contact you to schedule the closing.
7. Regions Bank will issue the payment directly to the contractor.
8. You'll receive monthly loan billing statements from Regions Bank.

How long can I finance the loan? If including a heat pump, you can finance for up to 10 years. Without a heat pump, the maximum term is 5 years. What is the interest rate? The annual percentage rate is 4.99% for 5-year loans and 6.99% for 10-year loans.

How will I be billed? You will receive a monthly billing statement from Regions Bank for your loan.

What are the eligibility requirements? To qualify for a loan, members must:
• Own the dwelling which receives electric service from WFEC.
• Have received electric service for at least 1 year from WFEC.
• Be in good standing with WFEC.
• Have an energy efficiency audit completed by a qualified WFEC employee or contractor.
• Have either a social security number or tax identification number.
• Have a minimum FICO credit score of 625.
• Have a monthly debt-to-income ratio of 45% or less.
• Not currently be a debtor in a bankruptcy action and not have been a debtor in a bankruptcy action
within 3 years of application for a loan.
• Be approved for financing by Regions Bank.
• Not have an outstanding loan under the program.

Can I install the improvements myself or do I have to hire a contractor? To ensure the improvements are installed safely and properly, any financed improvements must be installed by a licensed contractor.

Have additional questions? Contact our energy services experts by calling (800) 342-7400 to find out more
about the Energy Efficiency Loan Program.