Unsecured Loans

VGreen Unsecured Loans are a great way to go green now! The ITC loan is a great, flexible option designed primarily for solar that lets you benefit financially from your solar installation immediately. The Energy Improvement loan is designed for a wide spectrum of projects, making it the most flexible option for your energy savings needs, while the Fixed Rate Balloon loan gives you the power to take on bigger projects while keeping relatively low payments in exchange for a lump sum payoff at the end of the term.

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VGreen ITC Loan

The VGreen Investment Tax Credit (ITC) Loan is a great option for individuals looking to finance a solar purchase project. This loan allows you to use tax credits to keep monthly payments in line with your monthly electric bill, letting you reap the benefits of your improvements immediately. This loan is only available for primary residences and projects qualified for the 30% Federal Investment Tax Credit.

You can make your tax credit work for you in more ways than one. After the first 12 months, you may apply your tax credit to the principal of your VGreen ITC loan, or you may use that to pay down higher interest debt and let your loan payments re-amortize to a higher monthly payment but with the same fixed rate, as low as 5.40% APR.



NO UPFRONT PAYMENT

We are all about helping you save money, so we eliminated upfront payments to help you start benefiting from your new project as soon as possible.

FAST APPLICATION

The VGreen team of loan specialists are ready to help you get your project going today. Contact us today to see just how fast we are.

12 MO. LOW PAYMENTS

You will enjoy 12 months of low payments, after which your payment will increase unless you take advantage of the modification option for this loan.

LOW INITIAL PAYMENTS

Low payments offset your electricity bill immediately- then apply tax credit refunds to retain lower payments, or let it revert to a higher payment.

LONG TERMS

A 144 month (12 year) loan with a fixed interest rate as low as 5.40% allows new energy savings to immediately offset the cost of the project.

TAX CREDIT OPTIONS

After a year, tax credits (or any amount) to the loan principal or use it to pay off other debt and allow the loan to re-amortize at a higher payment.

RATES

VGreen ITC Loan Qualifications Loan Amount Loan Term APR as low as:
Project must qualify for
30% Residential Renewable Energy Credit
$60,000 maximum

144 months

5.40%

APR = Annual Percentage Rate. APR is effective as of 12/15/2016 and reflects the current minimum APR offered. Payment amount subject to change after initial 12-months based on tax credits or other credits applied to principle; or re-amortization of the outstanding balance. As an example, a $20,000 loan at 5.40% APR would result in 12 initial monthly payments of $146.08. If the entire 30% tax credit is applied to the principle during the first 12 months, the monthly payment would remain at $146.08 for the remaining term of the loan. If the principle is not paid down with a tax credit or other payment, the outstanding loan balance at the end of the 12-month period will re-amortize to $194.34 per month for the remaining 132 months. Other rates and terms may be available. The APR may be adjusted based on individual credit standing and term. For open-end loans, the term noted is used solely to determine periodic payments. Example payments are for estimation purposes only. Actual loan payment amount will be disclosed at loan closing and may differ slightly.



Energy Improvement Loan

The Energy Improvement Loan offers so much more than a standard consumer loan. With longer terms and discounted rates, this loan offers flexibility in financing a variety of energy saving projects and purchases. This loan comes with options and levels of discounts and terms, making it easier to tailor to your specific needs and goals. Contact a Member Service Consultant with any questions.

RENEWABLE ENERGY

The Energy Improvement Loan is a great way to get solar or other renewable energy projects going. With long terms and low rates, you can begin offsetting your energy usage with solar and more.

LONG TERMS

With terms up to 15 years, the Energy Improvement Loan is perfect for home energy improvments and works great for alternative transportation such as bicycles, cargo bicycles and electric-assist bicycles.

IMMEDIATE BENEFITS

The Energy Improvement Loan is designed to help you begin impacting your monthly utility bills and transportation expenses immediately. It’s a great way to make your home more efficient.

We are Vermonters too, so we understand the challenges that come with our cold winters and how hard it can be to live “out of town.” This is why we have developed an innovative line of energy savings loans, because whether it is reducing your fuel costs, maitnence costs, or increasing your self sufficiency, we understand and we want to help.


RATES

Enter the amount you wish to borrow:

Term
up to:
Maximum
loan amount:
APR
as low as:
Estimated
Monthly Payment
Apply Now
60 Months $40,000 4.90% Apply Now
144 Months $40,000 5.40% Apply Now
180 Months $40,000 5.90% Apply Now

APR = Annual Percentage Rate. APR is effective as of 12/15/2016 and reflects the current minimum APR offered. Estimated monthly payments shown are based on a $10,000 loan. Other rates and terms may be available. The APR may be adjusted based on individual credit standing and term. For open-end loans, the term noted is used solely to determine periodic payments. Calculated payments shown are for estimation purposes only. Actual loan payment amount will be disclosed at loan closing and may differ slightly.



Fixed Rate Balloon Loan

Designed to finance larger solar projects, the unsecured Fixed Rate Balloon Loan has an amortization that is longer than the loan term. This special pay schedule keeps loan payments low throughout the payback period, and results in a final balloon payment at the end of the loan term. A solar quote is required. Please contact a Member Service Consultant for additional information.

DISCOUNTED FIXED RATES

Discounted, fixed rates make this loan an extremely predictable option, perfect for those looking for to save money with consistent payments.

LONG AMORTIZATION

With an amortization longer than the term, your payments stay lower but will result in a payoff at the end of the term- perfect to use a tax credit on.

ONE TIME MODIFICATION

Save on financing costs by taking advantage of a one-time modification to adjust the pay-down, allowing you to adjust payments and interest.

TAX CREDIT OPTIONS

Apply federal tax credits to reduce the principal amount and which can be used in conjunction with additional funds to increase the pay-down amount.

LONGER AMORTIZATION

This loan has an amortization that is longer than the loan term, meaning at the end of the loan term a final balloon payment will be need to be paid.

Much like our ITC loan, our Fixed Rate Balloon Loan is designed to allow you to take advantage of federal incentive programs while taking advantage of your solar installation. This loan allows for a one-time modification that lets you apply federal tax credits recieved for your solar installation, making renewable energy more affordable and accessible.


RATES

Term Maximum Loan Amount APR* as Low as: Estimated Monthly Payment Estimated Balloon Payment at Maturity
*15 Years $40,000 5.9% $284.27 $15,023.68

APR = Annual Percentage Rate. APR is effective as of 12/15/2016 and reflects the current minimum APR offered. Estimated monthly payments shown are based on a $40,000 loan. Balloon loan is amortized over 20 years, with a balloon payment due at maturity. A one-time, no-charge loan modification is available to allow for adjustment of pay-down of the available 30% federal tax credit. The following example does not reflect any modification. Example: A $40,000 balloon loan with a 5.90% interest rate would result in 179 monthly payments of $284.27, and a final balloon payment of $15,023.68. Final balloon payment can be paid off or refinanced. The APR may be adjusted based on individual credit standing and term. Calculated payments shown are for estimation purposes only. Actual loan payment amount will be disclosed at loan closing and may differ slightly.





Apply: For VGreen Unsecured Loans, please select “Energy Improvement Loan” and then write the name of the specific loan you are applying for in the comments section. You can apply for most of our loan products online. Our online loan application offers quick results, sometimes letting qualified applicants know of approval instantly. This loan comes with options and levels of discounts and terms. Contact a Member Service Consultant with any questions.

Quick Tip: If you are already a member and want to apply for a product online, it’s easier to apply once you’ve logged into our Online Banking system. That way we can save you time by pre-filling the application with the general information we already have on file for you.



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