On-Bill Financing

If you own the home, pay the electric bill, and qualify for a rebate, you are eligible to apply for a loan.

Residential insulation, windows, and heat pump upgrades may be eligible for loans.

Submit a loan application with required documentation.

The maximum loan amount is $10,000. If the owner(s) have more than one active loan, the combination of all residential loans is capped to $10,000.

Flathead Electric Cooperative (FEC) uses a comprehensive decision matrix that takes into account the amount of the loan, your FEC Credit Rating, credit bureau scores, and the number of liens outstanding on the property.

Eligibility Criteria

• The project qualifies for a rebate.
• Owner(s) account is current. No past due balances or outstanding payment arrangements.
• Owner(s) FEC Credit Rating. Approval requires 9 points or less within the last 12 months.
• For all loans over $1000: Owner(s) Credit Score. Approval requires scores above 600.

After Flathead Electric Co-op receives the completed application, loan approval takes up to one week.

Yes, loan payments will be included as a line item on your electric bill starting the first bill after issuance of the check to your Approved Installer.

This time varies depending on the length of time it takes the Approved Installer and owner to arrange for final inspection, if necessary, and provide all necessary documentation. Once FEC approves completion of the project the check will be issued within 30 days.

Flathead Electric Cooperative will make final payment to the Approved Installer.

If the project cost is larger than the total rebate and loan amount, the homeowner is responsible for paying the trade ally the remaining dollar amount.

After the project is completed and completion is approved by Flathead Electric Cooperative.

You will be required to pay off your FEC Loan in full.

As long as you maintain ownership of the property, you may continue to be billed for the loan. As long as you continue to pay the electric bill at that property, the loan will continue; however, if you transfer the electric bill to the renters Flathead Electric Co-op account, then the loan would be due in full.

Your loan will continue.

No, there are no penalties for paying off your loan early.

FEC requires a valid social security number when applying for on-bill financing.

Yes. Residential loans are capped to one property owner.

No, Flathead Electric Cooperative will not loan to residences that are located on leased or rented land.

No, Flathead Electric Co-op will not loan to residences that are located on leased or rented land.

No. FEC will only loan money to the property owner(s) of record.

Your Co-op's loan fund is a “fixed” pool of money. Because these loans are low-interest, each time there is loss due to default, bankruptcy, or foreclosure, that “fixed” pool is reduced by that amount.

As listed owner of a property, you have an interest in that property. Your Co-op requires all persons who have an interest in the property to sign the participation application and loan agreement for the following reasons:

1. to ensure that all property owners are informed;
2. to ensure that the obligation will be paid if anything happens to the primary applicant
3. to ensure continued viability of the loan pool.

Yes. FEC will only loan money to the property owner(s) of record, unless you are the legally designated agent for the homeowner (i.e. Trusts, Wills, and Power of Attorney). In that case, you will be required to provide legal documentation to substantiate the designation.

No. Once the reason for the denial has been corrected you may reapply.

Yes, bids have an expiration date and will require re-submittal once expired. In addition, delays of longer than 60 days may require a new credit check which could result based on new credit scores of changed eligibility.