Low-Interest Loans - Energy Efficiency Loans - Santee Cooper (original) (raw)
How long will it take Santee Cooper to review my loan application?
Your loan application will be reviewed and an approval or denial will be made within five business days. Santee Cooper will let you know by email when your application has been approved. If you do not have an email, we will contact you by phone. In case of an emergency, you can request a 24-hour notification.
Energy Efficiency Loans: Applications remain active for 90 days.
Renewable Energy Resource Loan: Applications remain active for 120 days.
Can I get a rebate but not a loan?
Yes, you could get a rebate and not a loan. Rebates are not dependent on if you need or qualify for a Santee Cooper loan.
What happens if I'm denied a loan?
If you are denied a loan, you will be notified within two business days. You can still apply for a rebate if you install qualified equipment.
If my loan application was denied last year, can I try to get a loan again?
Yes, you can apply for a loan again this year.
You must pay off your loan before or during the sale of your home.
How long can I pay back my loan?
Energy Efficient Loan:
You can apply for a loan between 500and500 and 500and20,000. The payback period for a loan of $1,000 or more is up to 60 months. Smaller loans have a shorter payback period.
Renewable Energy Resource Loan:
You can apply for a Renewable Energy Resource loan up to $40,000 with a payback of up to 120 months.
*Total combined loan max amount: $40,000.
Is there a penalty for early payoff?
No, there is no penalty for paying off your loan early.
Who receives the check for the loan?
After all loan documents are processed, Santee Cooper will mail a check directly to the Trade Ally who installed your qualifying equipment.