Who is Eligible?

• Non-residential customers served by Pennyrile RECC

• Served by the utility for at least one year

• Favorable credit history reports and good payment history with power distributor

• Funds available to local entities only, as opposed to corporate offices of local customers.  Recipients will be local customers with strong local management (decisions influenced at the local level).

Funds Under This Program May Be Used As Follows:

• Upgrade customers electrical facilities

• Take advantage of energy conservation measures

• Increase efficiency of operation

• Increase production and/or increase jobs

• Assist in regulatory compliance

Terms of Loan Program

• Customers may borrow up to $25,000 to be repaid within 5 years.

• Interest rate is fixed at time loan is finalized.

• Equal monthly installments will be added to customers regular power bill for duration of loan repayment.

• Loan will be secured by lien or other legally binding agreement.  Distributor will file UCC-1 in deed book as well as a chattel lien on the property/equipment.  All filing fees will be a cost for the borrower.

• Customer agrees to continue to be served by current power supplier for term of loan.