What is the Paris BPU Heating and Cooling Loan Program?
The Paris BPU Heating and Cooling Loan Program is a financing program for residential customers of the Paris Board of Public Utilities. The loan program was developed to provide low-interest loans for the conversion or replacement of existing heating systems with new energy-efficient equipment.
Paris BPU Heating and Cooling Loan Information
- Current interest rate is 6%
- Financing available up to $12,500
- Customers have up to ten (10) years to pay back the loan
- The loan is repaid monthly through your electric bill
- There are no penalties applied for early payoff
- No application fee
- No down payment required
- No collateral required
- Customers will select a vendor based on an approved list provided by Paris BPU
- Paris BPU provides a free follow-up inspection after the installation is complete.
What are the criteria/requirements to get a Paris BPU Heating and Cooling Loan?
- Residential customer of the Paris Board of Public Utilities
- Primary borrower must own the property and be listed on the electric account
- Deed must be recorded at the courthouse
- Improvement value (home only, not including land) must be at least $40,000
- Have an Equifax Beacon Score of at least 650 or higher
- Have not filed for bankruptcy in the past seven years
Who may perform the work?
Only Paris BPU approved heating and cooling contractors may perform the work. Approved contractors have been reviewed for financial and ethical stability and are currently authorized to work under the financing program.
Paris BPU HVAC Installers List
How do I get a Paris BPU Heating and Cooling Loan?
Complete the application below and return to Barry Flood, Paris BPU Energy Solutions Manager.
Paris BPU HVAC Loan Application
Looking for additional information?
Visit our resource center or download our HVAC Loan Flyer
For more information or if you have any additional questions, please feel free to contact the Paris BPU Energy Solutions Manager at 731-642-1322 ext. 159.