Manitoba Music: Customer Contribution Time Payment Plan
$10,000
Loan
Description:
Customer Contribution Time Payment Plan is a convenient on-bill financing for service extension work for Manitoba Hydro customers of all rate classes.
Financing is available to customers with approved credit for projects related to individual service extensions, plant relocations, or conversions from overhead to underground wiring facilities.
Comments on Funding:
The financing has the following terms and conditions:
1. Annual interest rate of 6.50% (on approved credit) for the first 5 years;
2. Maximum financing term of 10 years;
3. maximum financing of up to $10,000 per property.
4. the minimum monthly payment is $15.
5. the minimum that can be financed is $500.
6. monthly instalments will be applied to your energy bill. Repayment of the loan is the responsibility of the property owner and not the tenant.
7. additional payments may be made at any time with no penalty.
8. $20 administration fee will apply for complete payments prior to 6 months.
9. the loan becomes due and payable when the property is sold or transfers ownership. The loan is not transferable.
Continuous intake
Eligibility:
Applicants must:
1. have an active account with us in order to be approved for credit;
2. You must be either the property owner or the holder of a lease with a minimum of 10 unexpired years for property in a provincial or national park.
The service extension or plant relocation is permanent.
3. have an approved application before any work starts.
Application Steps:
Applicants must:
1. Contact the local district office to see if you qualify.
2. Fill out and submit the loan application
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
