Are you married? Choose Yes No Important information about procedures for opening a new account To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents. Amount Requested Please select the improvement(s) for which you are interested in receiving a loan. Air-source heat pump Geothermal heat pump Insulation (ceiling, floor, wall) and/or ductwork ENERGY STAR®-rated windows and/or doors ENERGY STAR®-rated appliances LED lighting Compressed-air systems Energy-storage devices Commercial energy audit EV chargers Irrigation or water systems Motor Systems Applicant or Co-Signer Information Name (Last) (First) (Middle) Mailing Address City State ZIP Code County Physical address where work is to be completed (if different than above) City State ZIP Code County How long have you been living there? Previous Address (If less than 2 years at present address) Taxpayer ID Number (SSN/TIN) Date of Birth Driver's License (License/ID Number) (State) Phone Number Check box if you are retired. Monthly Gross Income Monthly Net Income Employer Employer's Address Employer's Phone Position How Long? Gross Pay Net Pay Payment Schedule (Weekly/Monthly?) Average Overtime Pay Previous Employer How Long There? Immigration Status U.S. Citizen Permanent Resident of the U.S. Deposit Account(s) (indicate checking or savings) Name of Mortgage Holder or Landlord Monthly Mortgage or Rent Payment Purchase Price of Home Present Value Balance Owing Account # with Mortgage Holder Name of Nearest Relative Not Living With You Relationship Relative's Address Personal Reference Name Address Phone Marital Status Choose Married Separated Unmarried (including single, divorced and widowed) * Do not complete if this application is for individual unsecured credit unless responding party resides in a community property state or is relying on property located in such a state for repayment of the credit requested. Additional Information Alimony Per Month Child Support Per Month Separate Maintenance Per Month * You are not required to disclose income from alimony, child support, or separate maintenance payments. However, if you are relying on income from alimony, child support, or separate maintenance payments as a basis for repayment of this obligation, please complete the information below. Other Income Amount Source Co-Applicant Information Name (Last) (First) (Middle) Address City State ZIP Code County How long have you been living there? Previous Address (If less than 2 years at present address) Taxpayer ID Number (SSN/TIN) Date of Birth Driver's License (License/ID Number) (State) Phone Number Check box if you are retired. Employer Employer's Address Employer's Phone Position How Long? Gross Pay Net Pay Payment Schedule (Weekly/Monthly?) Average Overtime Pay Previous Employer How Long There? Immigration Status U.S. Citizen Permanent Resident of the U.S. Deposit Account(s) (indicate checking or savings) Marital Status Choose Married Separated Unmarried (including single, divorced and widowed) * Do not complete if this application is for individual unsecured credit unless responding party resides in a community property state or is relying on property located in such a state for repayment of the credit requested. Additional Information Alimony Per Month Child Support Per Month Separate Maintenance Per Month * You are not required to disclose income from alimony, child support, or separate maintenance payments. However, if you are relying on income from alimony, child support, or separate maintenance payments as a basis for repayment of this obligation, please complete the information below. Other Income Amount Source North Arkansas Electric Cooperative loans qualified members money at low interest for energy-efficiency improvements to their existing homes and businesses through the USDA Rural Energy Savings Program. NAEC's goal is not only to help members lower their energy costs but also to improve the comfort of their existing home or business through the installation of a new heat pump, additional insulation or other efficiency upgrades. Loan Types Loan applications shall be for one or more of the following types: residential, commercial, industrial, public, community buildings/facilities, structures used in agricultural operations and any other location deemed suitable by NAEC. The loan interest rate is subject to change, but it is 1% for the duration of the loan as of Jan. 1, 2023. Loan types include: HVAC; LED lighting; building envelope improvements and air sealing; energy-efficient appliances, on- or off-grid renewable energy systems; motor systems; irrigation or water systems; compressed-air systems; energy-storage devices; commercial energy audits; and EV chargers. Click here for complete details. Loan Application Process Those who have been an NAEC member for at least six months may apply for a loan at naeci.com/loans. A paper version of the loan application also is available during business hours at NAEC's offices in Salem, Ash Flat and Mountain Home. NAEC Member Services personnel handle the administration of the RESP program. They review an applicant's credit report, NAEC payment history, amount requested, type of qualifying activity, location, etc. as well as potential savings in deciding whether to approve the loan. The review usually takes one business day after the completed application is submitted. Steps After Approval If approved, a Member Services representative reviews the loan process with the borrower, including liens, copy of warranty deeds, audits and/or blower-door tests (if needed), necessary documents, invoices and payment procedures. Results of the audit and/or blower-door test must show the installation of energy-efficiency measures would be cost effective and reduce the overall energy consumption of the structure. Ordering or installation of equipment and energy-efficiency measures to be financed may not begin until the loan is approved and funds are available. Upon completion of the job to be financed, all invoices must be submitted to NAEC for preparation of loan closure. Upon closing, a check is written to the borrower who is responsible for getting payment to the contractor. NAEC will not advance funds to the borrower or the contractor without assurance that the work has been completed properly. Loans have a maximum repayment schedule of 10 years; maximum repayment schedule varies by loan type and amount. All loans that exceed $20,000, except for on- or off-grid renewable energy systems, require board approval. Minimum loan amounts are set at no less than $1,000. Liens on financed equipment are attached to the property and filed with the Arkansas Secretary of State Office and in the county in which the property lies within seven to 10 days of the document signing. A fee of $50 is charged to the borrower for filing the required forms. Scheduled loan payments are billed monthly, and statements of principal and interest paid are sent to the borrower each January. Borrowers must agree to a possible inspection of conservation measures installed within six months of installation by the auditing Member Services representative. I have read and understand the requirements of the loan. Current Loans/Debts Name of Bank, Company, or Individual Account Number Original Amount Current Balance Monthly Payment Collateral Name of Bank, Company, or Individual Account Number Original Amount Current Balance Monthly Payment Collateral Name of Bank, Company, or Individual Account Number Original Amount Current Balance Monthly Payment Collateral Name of Bank, Company, or Individual Account Number Original Amount Current Balance Monthly Payment Collateral Name of Bank, Company, or Individual Account Number Original Amount Current Balance Monthly Payment Collateral Attach Warranty Deed Terms & Conditions (lf joint application, read singular pronouns in the plural.) You warrant the truth of the information contained in this application and you realize it will be relied upon by Lender in deciding whether or not to grant the credit which is applied for. You warrant that the financial obligations you have disclosed in relation to this application are totally complete and that you have no other outstanding financial obligations of any kind, including any guarantor or co-signer liability. If you have left any spaces in this application blank, Lender may assume the information required is answered by you in the negative. You hereby authorize Lender and its employees and agents to investigate and verify any information provided to Lender by you. You agree and recognize that it is your sole and exclusive responsibility to determine any and all aspects of federal tax considerations related to consumer loan interest deductibility and acknowledge that Lender has not provided any tax advice whatsoever to you. You authorize Lender to make any credit, employment or investigative inquiry that Lender determines is appropriate for the extension of credit or the collection of amounts you owe. Lender can furnish information concerning your loan to consumer reporting agencies and others who may properly receive that information. If this application is approved and Lender is required to report the amount of interest paid on the loan to the Internal Revenue Service, the Applicant understands that Lender will do so using the Applicant's Social Security Number shown above (tax identification number). The Applicant understands that if the Applicant's Social Security Number is incorrect the Applicant may be subject to Internal Revenue Service penalties. You understand this application will be kept by Lender whether or not your credit request is approved.
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
North Arkansas Electric Cooperative loans qualified members money at low interest for energy-efficiency improvements to their existing homes and businesses through the USDA Rural Energy Savings Program. NAEC's goal is not only to help members lower their energy costs but also to improve the comfort of their existing home or business through the installation of a new heat pump, additional insulation or other efficiency upgrades.
Loan Types
Loan applications shall be for one or more of the following types: residential, commercial, industrial, public, community buildings/facilities, structures used in agricultural operations and any other location deemed suitable by NAEC. The loan interest rate is subject to change, but it is 1% for the duration of the loan as of Jan. 1, 2023.
Loan types include: HVAC; LED lighting; building envelope improvements and air sealing; energy-efficient appliances, on- or off-grid renewable energy systems; motor systems; irrigation or water systems; compressed-air systems; energy-storage devices; commercial energy audits; and EV chargers. Click here for complete details.
Loan Application Process
Those who have been an NAEC member for at least six months may apply for a loan at naeci.com/loans. A paper version of the loan application also is available during business hours at NAEC's offices in Salem, Ash Flat and Mountain Home.
NAEC Member Services personnel handle the administration of the RESP program. They review an applicant's credit report, NAEC payment history, amount requested, type of qualifying activity, location, etc. as well as potential savings in deciding whether to approve the loan. The review usually takes one business day after the completed application is submitted.
Steps After Approval
If approved, a Member Services representative reviews the loan process with the borrower, including liens, copy of warranty deeds, audits and/or blower-door tests (if needed), necessary documents, invoices and payment procedures. Results of the audit and/or blower-door test must show the installation of energy-efficiency measures would be cost effective and reduce the overall energy consumption of the structure.
Ordering or installation of equipment and energy-efficiency measures to be financed may not begin until the loan is approved and funds are available. Upon completion of the job to be financed, all invoices must be submitted to NAEC for preparation of loan closure. Upon closing, a check is written to the borrower who is responsible for getting payment to the contractor. NAEC will not advance funds to the borrower or the contractor without assurance that the work has been completed properly.
Loans have a maximum repayment schedule of 10 years; maximum repayment schedule varies by loan type and amount. All loans that exceed $20,000, except for on- or off-grid renewable energy systems, require board approval. Minimum loan amounts are set at no less than $1,000.
Liens on financed equipment are attached to the property and filed with the Arkansas Secretary of State Office and in the county in which the property lies within seven to 10 days of the document signing. A fee of $50 is charged to the borrower for filing the required forms. Scheduled loan payments are billed monthly, and statements of principal and interest paid are sent to the borrower each January.
Borrowers must agree to a possible inspection of conservation measures installed within six months of installation by the auditing Member Services representative.
I have read and understand the requirements of the loan.
(lf joint application, read singular pronouns in the plural.) You warrant the truth of the information contained in this application and you realize it will be relied upon by Lender in deciding whether or not to grant the credit which is applied for. You warrant that the financial obligations you have disclosed in relation to this application are totally complete and that you have no other outstanding financial obligations of any kind, including any guarantor or co-signer liability. If you have left any spaces in this application blank, Lender may assume the information required is answered by you in the negative. You hereby authorize Lender and its employees and agents to investigate and verify any information provided to Lender by you. You agree and recognize that it is your sole and exclusive responsibility to determine any and all aspects of federal tax considerations related to consumer loan interest deductibility and acknowledge that Lender has not provided any tax advice whatsoever to you. You authorize Lender to make any credit, employment or investigative inquiry that Lender determines is appropriate for the extension of credit or the collection of amounts you owe. Lender can furnish information concerning your loan to consumer reporting agencies and others who may properly receive that information. If this application is approved and Lender is required to report the amount of interest paid on the loan to the Internal Revenue Service, the Applicant understands that Lender will do so using the Applicant's Social Security Number shown above (tax identification number). The Applicant understands that if the Applicant's Social Security Number is incorrect the Applicant may be subject to Internal Revenue Service penalties. You understand this application will be kept by Lender whether or not your credit request is approved.
Outage restoration work likely will continue through Sunday. Please report your outage by calling 870-895-3221. Updates are posted on the NAEC Facebook page. We appreciate your patience as we work as safely and quickly as possible.
