Heat Pump Financing Application



Please read the following disclosure carefully before submitting this form.

By completing and submitting this form, you acknowledge and agree to the following:
  • The information you provide is accurate and complete to the best of your knowledge.
  • You understand and accept the purpose for which this information is being collected.
  • You consent to the processing, storage, and use of your information as described.
  • You understand that you will not be able to complete or submit the following application unless you sign this disclosure agreement.
  • You understand that typing your name below constitutes a legally binding electronic signature, equivalent to a handwritten signature.



By typing your full name above, you acknowledge that this electronic signature is legally binding.
Finance heat pumps, installation costs, duct work and installation upon credit approval.
Please complete the below form in its entirety for processing by Gibson Electric.
IF YOU INTEND TO APPLY FOR JOINT CREDIT, PLEASE INITIAL HERE:

































To help the government fight the funding of terrorism and money laundering activities, Federal law requires financing institutions to obtain, verify, and record information that identifies the applicant(s). All applicants will be asked to provide name, address, date of birth, and other information and may be asked to provide driver’s license or other identifying documents.

PLEASE COMPLETE AND SIGN PAGE 2. 

Application will be considered incomplete unless signed.


  1. I understand that under the Program, Gibson Electric as part of its electric service has developed arrangements whereby funds may be advanced to install energy improvements eligible for financing. I further understand that before such funds are made available, I must sign all loan closing documents and enter into a separate repayment agreement within 15 days from the loan Approval Date.

  2. I understand that all applicants, including any co-applicant or co-signer, must be members of Gibson Electric for a minimum of 6 months with good payment history.

  3. I understand that I must own the property where the improvements are to be installed. I further understand that if the Residence is a manufactured home, I must own the land on which it is located.

  4. I hereby authorize Gibson Electric to check my credit as necessary for purposes of Program financing.

  5. I understand that repayment of any amount advanced shall be in equal consecutive monthly installments (covering principal amounts and interest) not to exceed a period of up to 10 years (120 months). I further understand that the rate at which financing will be made available will not exceed 8% a year. This rate expires 15 days from the date of loan application approval.

  6. I understand that the total amount of financing shall not exceed the amount applied for and approved. The maximum eligible loan amount is $20,000 for any and all units - this includes multiple units.

  7. I understand that any required security must be furnished before a repayment agreement will be entered into. I further understand that I may be responsible for expenses incurred by Gibson Electric in securing the amount advanced. The amount for these expenses may be paid in full in advance or included in the amount financed.

  8. I understand I must pay a security filing fee as determined by the applicable county public official.

  9. I understand I must provide Gibson Electric a written quote from a Gibson Electric Quality Contract Network contractor of my choice and that the loan amount will be for the amount of the quote. I also understand that all the loan forms must be signed and the three-day rescission period must have passed before the loan funds are available. I understand that the loan must be closed and the improvements must be installed and inspected according to all mandatory Program requirements within 90 days of the loan closing date. It is my responsibility to be sure that the contractor I hire complies with these requirements. Within 10 days from completion of the work, I will ensure that Gibson Electric has been contacted to arrange for inspection of the unit.

  10. I understand that I may be responsible for expenses incurred by Gibson Electric in providing an inspection of the improvements. The amount for these expenses shall be paid in advance or included in the amount financed.

  11. Gibson Electric shall have no obligation to advance funds for any improvement until the installation of that improvement has been determined to meet the Heat Pump Financing Program requirements and the contractor, inspector and applicants have completed the Gibson Electric Contractor-Member Affidavit.

  12. I understand that this Program is a part of my electric service and the amounts of my repayments will be included with my monthly electric bill as a separate item. I understand that my obligations, including the repayment for this service provided by Gibson Electric, will be subject to existing rules and regulations of Gibson Electric. I further understand that I will be responsible for paying the remaining balance in full before the end of my repayment term upon the occurrence of certain events set out in the repayment agreement, such as the sale of my home.

  13. If ownership of the Residence is transferred, I will notify Gibson Electric immediately, and Gibson Electric and I will agree upon the date this agreement will be terminated. In any event, this agreement will terminate upon the date ownership of the Residence is transferred or my tenancy in the Residence is terminated.

  14. I understand that any inspection under the Program is provided as a service to me and there is no guarantee or warranty, express or implied, from Gibson Electric concerning cost, adequacy, or effectiveness of any work performed or information supplied in connection with the Program.

  15. I understand that I must enter into a repayment agreement(s) at the time of loan closing to obtain the program financing and that Gibson Electric‘s obligations under this agreement expire 90 days from the date of loan closing.

  16. I understand that if the property or collateral is sold, the remaining balance of the loan becomes due and payable. Loans financed through the Heat Pump Financing Program are non-transferable.

Application: By signing this document, applicant(s) understand and agree that:
  1. The program financing will involve security arrangements (lien filed on property) which may make it more difficult to obtain financing for your home;

  2. Applicants must provide and maintain satisfactory security arrangements for the requested loan;

  3. Applicants reveal and are responsible for any outstanding Heat Pump Financing loan balances, and the requested loan amount is no more than the maximum amount allowed reduced by any outstanding balances;

  4. Providing a social security number is not required to be considered for a loan, but social security numbers will expedite consideration of this application; and

  5. Applicants will be informed if this application is not approved. Applicants certify that everything stated in this application is correct to the best of their knowledge. Applicants authorize and permit Gibson Electric to perform background checks and obtain information about Applicant(s) from credit reporting sources.
Participation Agreement: If approved for financing, by signing this agreement, I (the applicant) certify that I own the home where the improvements will be made and will comply with the above requirements.




Gibson Electric is an equal opportunity provider and employer.