The Sustainable Household Scheme offers no-interest, zero-fee loans of up to $1500 to eligible ACT families to assist with the upfront costs of installing energy-efficient appliances in their homes. These loans are available from both the bright and partner financial companies. The zero-interest rates and flexible repayment terms make these kinds of loans attractive to borrowers. In order to be eligible for a loan, borrowers need to live in an area covered by the sustainable household scheme. In addition, applicants must have an unincorporated business that is active on a continuous basis and make at least one monthly income.
How to Choose Sustainable Household Scheme
To apply for a loan, borrowers must include a completed application form and all relevant expenditures and receipts in the application package. They will also need proof of funds for a feasibility study covering the proposed energy upgrades. The loan will be paid off over five years. Borrowers can use the repayments to make improvements or repairs to their home, pay for other eligible electrical and heating appliances or pay for emergency household needs such as electricity for an air conditioner. In order to know if they qualify for a sustainable household scheme, borrowers must check the Energy Performance Certificate (EPC) rating of their property.
The bright and partner loans provider offers three options for borrowers who wish to participate in the sustainable household scheme. Borrowers must decide which option is most suitable for them, and complete the application form in the prescribed format. Borrowers must also allow for enough time for their loan to be processed because the scheme only deals with new applications cannot be processed for up to six months after the application has been received. Finally, applicants must allow for adequate advertising and promotion of their loan.