Before applying for the Solar Water Heater Loan, you should ensure that you meet the minimum requirements. To know if you meet the minimum requirements you should answer the following questions at the time of your application:
- Are you applying to receive your first Solar Water Heater Loan?
- Have you been established for at least 5 years?
- Are you up to date with your contributions (that is Annual Returns and employee contributions are current)?
- Do you have proof of income and the ability to repay the loan? (click here to check with our Mortgage Calculator)
- Can you demonstrate the capacity to repay the loan without a negative impact on your operations?
- Do you possess documentation that clearly outlines persons with authority to conduct legal/business transactions on behalf of your institution?
- Can you show that your institution’s Constitution gives it the authority to borrow?
If you answer ‘Yes’ to all of the questions above then you would have met the minimum requirements for applying. You should then contact your NHT Office for a list of the documents that you will need for your loan interview.
Once you have all the required documents and information you should call and schedule an appointment with us for your loan interview.
After a successful interview you will be given a Letter of Commitment and a Letter of Authorization for your water heater supplier. We will pay the supplier as soon as:
- The heater has been installed
- The supplier provides a properly completed delivery invoice
- The loan has been properly secured
We will tell you when to begin repaying the loan.