Red River Valley REA - Heat Pump Loan Program

RRVREA members can finance heat pump systems through fixed-rate loans at 5% for geothermal or 7% for air-source models with an eight-year term, with payments conveniently added to your electric bill. You'll need to submit a credit application, contractor bid, and property lien documentation, and equipment must be purchased from RRVREA or its subsidiary. Contact RRVREA directly to apply and explore available rebates for HVAC installations.

You can help your RRVREA member customers access affordable financing for heat pump upgrades, with competitive fixed rates (5% geothermal, 7% air-source) and extended eight-year terms that make projects more affordable. To participate, provide a detailed bid to the customer, coordinate with them on the credit application and loan paperwork (which must be notarized), and deliver a final invoice; RRVREA also offers HVAC rebates that can further improve project economics.

This member-focused loan program finances geothermal heat pumps at 5%, air-source heat pumps at 7%, and water heaters at 10%, all with eight-year terms and billing-integrated repayment. Loans require verified credit, contractor bid documentation, notarized paperwork, final invoicing, and a property lien; equipment must come from RRVREA or its subsidiary. The program targets RRVREA residential and commercial members seeking to upgrade heating and cooling systems, and is complemented by free energy audits and HVAC rebates.