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Low-Interest Loans
Low-Interest Loans
Interested in saving money AND saving energy? Dakota Valley Electric Cooperative offers a variety of low-interest loans to qualifying members:
Electric Heating and Water Heater Loans
Loans are available for installations of electric heating products such as heat pumps, electric boilers, electric furnaces, base board heaters, cove heaters, electric water heaters, fan forced heaters and thermal storage heat.
The interest rate is 5 percent annually. A 10 percent down payment is required. The term of the loan, to be repaid monthly, will vary depending on the amount borrowed. For example:
Under $1,000- up to 1-year term
$1,000 - $2,000- up to 2-year term
$2,000 - $3,000- up to 3-year term
$3,000 - $4,000- up to 4-year term
$4,000 - $5,000- up to 5-year term
Got a weatherization project in mind? Learn more about our Energy Conservation Reserve, or ERC, loans here: