This is North Central Electric Cooperative's newest loan program. This loan can be used to finance the purchase and installation of a central air conditioning system, electric heat installations, refrigerators, grain aeration fans and electric bin heaters, or the purchase and installation of a standby generator and the necessary isolation switches the generator requires.
The standby generator requires isolation switches to keep the generator from producing power back on North Central Electric Cooperative's distribution system during outages. Without the isolation switches, a standby generator could pose a safety problem for line workers working on the power lines.
You can borrow up to $5,000 at 6% interest for the equipment loan. You can borrow up to $10,000 for the purchase and installation of a standby generator. The loan is repaid on your monthly electric bill.
Contact Us for more information.