The Vendor is required to provide energy efficiency financing services.
- Customer submissions deemed eligible by the administrator, the administrator will prepare a loan authorization form, each assigned a unique loan id#, and provide such to the customer.
- This may involve working with the customer and/or the customer’s contractor to obtain any additional information as needed to make the eligibility determination.
- The participating lenders will make all decisions concerning loan approval.
- Servicing loans throughout the loan term will be the sole responsibility of the lender.
- Maintain a toll-free Phone line to provide information and support to program participants and contractors about the program process and requirements.
- Receive and review loan intake forms and proposals including required supporting documentation from customers and contractors to verify program eligibility of the proposed projects including any required follow up actions if documentation is missing or for any needed clarification.
- Online submissions should offer tracking of the status of the application for the customer and ability to correct any errors through the online system.
- The ISP will then make a payment to the lending institution of an amount equal to the net present value of the interest rate subsidy as defined in the lender agreement which is updated periodically with changes in the prime interest rate.
- Conduct virtual or on-site verification inspections, at a rate specified by department, to confirm that the proposed improvements were installed.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: June 5, 2025