Loans

Sioux Valley Energy offers loans to assist members in purchasing heat pumps and weatherization products. We offer low-interest loans of 5% up to $10,000 with a seven-year term. A loan application must be submitted and credit approved to be eligible.

Weatherization Loan

To qualify for a loan:

  • Sioux Valley Energy must conduct an energy audit prior to the work being performed. 
  • Loans are available only for home improvement products, not new construction. Labor to install these products may also be included in the loan.
  • Weatherization products must meet ENERGY STAR standards. Complete the loan application form. The application will be processed upon approval. Funds will be issued in the amount of approved submitted invoices and upon project completion and by inspection by SVE personnel.
    • Windows and doors must be ENERGY STAR labeled and certified in the northern climate zone
    • Insulation values and levels must meet ENERGY STAR standards
    • Other air sealing products such as caulk and weather stripping are eligible
  • Project costs must be a minimum of $250.

Heat Pump Loan

To qualify for a loan:

  • An electric air-to-air heat pump (13 SEER or above) or geothermal heat pump must be installed. An electric resistance furnace installed as backup heat for the heat pump can also be included with the heat pump loan, but loans are not available for straight electric resistance heating equipment. Labor to install the equipment may also be included in the loan.
  • Complete the loan application form. The application will be processed upon board approval. Funds will be issued upon project completion in the amount of approved submitted invoices and upon inspection by SVE personnel.

Forms

*Rates and programs are subject to change or end without notice.

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