Implementing Sector: | Local |
Category: | Financial Incentive |
State: | Florida |
Incentive Type: | Loan Program |
Web Site: | http://www.lauderhill-fl.gov/news-events/interest-free-loans |
Administrator: | City of Lauderhill |
Eligible Renewable/Other Technologies: | Solar Water Heat, Solar Photovoltaics |
Eligible Efficiency Technologies: | Clothes Washers, Dishwasher, Refrigerators/Freezers, Air conditioners, Other EE, Tankless Water Heater |
Maximum Loan: | $2,500 |
Loan Term: | no more than 2 years; zero interest |
The City of Lauderhill offers interest-free loans for EnergyStar appliances through a municipal revolving loan program. Loans from $400 to $2,000 are available to homeowners purchasing new Energy Star certified appliances from eligible retailers. Tankless water heaters, solar photovoltaic systems, and solar water heating systems are also eligible for the loan program. Loan funds must be repaid within a two year period. Eligibility will be determined within 10 business days.
Loan funds are made payable directly to the retailer within a week of the time the final loan documents are signed. A check will be made payable to the retailer, must have a quote or invoice from the retailer with the name of the retailer and address. For Solar Powered Systems, the check will be made payable to the contractor with a 10% holdback. The holdback check will be released upon submittal of a Completion Certificate signed by both the borrower and the contractor and copies of all required city permits (if applicable). Any costs in excess of the contractor's bid/quote will be the customer’s responsibility.
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