Customer must complete an application used for a credit check by TVA. Must have a copy of drivers license also spouses. We usually have a reply within a few days. The approval is good for 90 days.
Customer must be the landowner and must provide a copy of the warranty deed.
The electric bill must be in the landowner name.
After the application has been approved FDEC will notify the customer and the customer will need to come to the office of the cooperative and sign the participation agreement and pay a $50.00 administration fee for fixture filing lien at the courthouse.
The customer will be given a list of approved TVA contractors to choose from (we recommend getting at least 3 bids. It is simply a good business practice) and FDEC does not have to see the estimates.
The contractor will contact FDEC to set up an inspection after the installation is complete. At the inspection the customer will then sign all financing forms.
Loan terms:
Loan fund available up to $10,000.00
Repayable through the electric bill for up to 10 years
8% loan for 13 seer HVAC units
6% loan for 14 seer or greater HVAC
Loan must be paid off before the home is sold or refinanced
