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What does REEL have to do with contractors? The Residential Energy Efficiency Loan (REEL) Assistance Program provides attractive financing options to help residential customers complete energy efficiency projects. The program is administered by the California Hub for Energy Efficiency Financing (CHEEF) in partnership with California’s Investor-Owned Utilities.* Participating REEL lenders offer energy efficiency loans with favorable rates and terms. Offering financing means: more customers bigger projects deeper energy savings To learn more, sign-up for a training or submit an application, visit: theCHEEF.com * Pacific Gas & Electric, Southern California Edison, San Diego Gas & Electric and Southern California Gas Company Contractor Eligibility Property & Borrower Eligibility Project Eligibility RESIDENTIAL PROGRAM OVERVIEW Grow Your Contracting Business Increase project scope and size… and your bottom line Offer 100% financing to your customers with more attractive rates and terms Increase deal-flow by reaching new customers Combining financing and utility rebates is optional Be featured on a statewide list of Participating Contractors Earn BPI Continuing Education Credit by completing free training Receive up to $7,000 in co-op marketing funds for customized co-branded outreach campaigns Use up to 30% of the project cost for other home improvement projects RESIDENTIAL ENERGY EFFICIENCY LOAN (REEL) ASSISTANCE PROGRAM 1 Lenders may offer financing for solar, but the solar portion of the loan is not eligible to receive a credit enhancement. Current Contractors State License Board (CSLB) license relevant to work performed. No outstanding liens or judgments. Maintain and provide evidence of commercial general liability insurance coverage (at least $1,000,000 per occurrence). Maintain and provide evidence of workers’ compensation insurance. 1-4 unit residential properties. Must receive gas or electric service from either Southern California Gas Company, San Diego Gas and Electric, Pacific Gas and Electric or Southern California Edison. Borrowers need a FICO minimum of 580. Borrowers with no FICO may qualify. 70% of the loan must be for Eligible Energy Efficiency Measures (EEEMs). Other alterations necessary to complete the project may be included in the 70%. The remaining 30% of the loan may finance other home improvements including general remodeling and water efficiency projects. Solar may be financeable, depending on the lender and terms may differ. 75% of energy projects over $10,000 are financed. Did you know?
