Generator Loan Program
About the program:
Through an agreement with our partner, Florida Rural Electric Credit Union, members of Escambia River Electric Cooperative can take advantage of low interest loans to finance a whole home generator and give them peace of mind during a major storm.
This program is available to members of EREC who:
- Own the dwelling
- Have received electric service from EREC for at least one year
- Are in good standing with EREC, meaning they are current on utility payments and have made timely payments for the previous 12 months
- Are approved by Florida Rural Electric Credit Union
- Must be a new whole home generator
- All major brands approved
- All installations must be performed by a licensed & insured electrical contractor.
- Rates as low as 5.25%
- Maximum Loan Amount up to $25,000
|Grade||FICO||0-36 mo.||37-48 mo.||49-60 mo.||61-72 mo.||73-84 mo.||85-96 mo.||97-120 mo.||121-180 mo.|
To Apply For A Loan:
Simply call Florida Rural Electric Credit Union at 1-800-542-1246.
*90-day approval period (work must be complete within 90 days of loan approval). *Can finance up to 100% of installation costs (up to the maximum loan amount). *Financing available only for qualifying projects performed by licensed & insured contractors. *Payment made directly to contractor(s). *Subject to approval, these APRs are subject to change. Your APR and repayment terms will depend on your amount financed and term of your financing agreement.