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Clean Energy Loan

Quick. Easy. Local.

Whether you're trying to save money or reduce your carbon footprint, a Photovoltaic (PV) or Solar Water Heating system is an enhancement to your home and an investment in California's environment and your financial health. A Clean Energy Loan from First Commercial Bank, N.A (USA) is an unsecured loan to finance the purchase and installation costs of a system from a participating contractor. Application is easy and response is fast.

• For single-family homes and condos in California
  • owner-occupied
  • investment properties
• Choice of initial loan terms: 6, 12, 18 months*
• No payments during the initial 6 months
• No interest throughout the initial term (0.00% APR interest rate)*
• No pre-payment penalty
• Simple application process – by phone, in-person or online
• Quick approval on qualified loans up to $10,000**
• Immediate conditional approval on qualified loans for $10,001 to $50,000**

Financing the cost of purchase and installation of a PV or Solar Water Heating System from a participating contractor includes:

• Materials and Labor
• Extended manufacturer's warranty
• Manufacturer's sales tax

For peace of mind knowing how you'll finance your purchase go with a Clean Energy Loan from First Commercial Bank, N.A (USA)  – and let the sunshine in!

   * Initial terms of 6-month, 12-month and 18-month feature a promotional interest rate of 0.00% APR with no accrued interest during the initial term and no payments for the first six months followed by principal only monthly payments equal to one-half percent (0.50%) of the original loan amount. After the initial term ends, if the outstanding balance is not paid off, the balance will automatically convert to a fully amortized 36- month term with principal and interest payments due monthly based on the interest rate set at closing. The interest rate is based on a margin of 7.50% plus an index which is the Federal Home Loan Bank of Seattle Cost of Funds Five-Year Fixed Rate Amortizer published on the Federal Home Loan Bank of Seattle website, http://www.fhlbsea.com and is set weekly on the first business day of the week. The following are examples of each term offered: Based on a loan amount of $10,000 with a 6-month initial term and 0.00% initial interest rate, there are no monthly payments for six months. After the end of the initial term, if the balance is not paid off, there will be 36 monthly principal and interest payments of $316.86 based on the current rate of 8.75% APR beginning in the seventh month.* Based on a loan amount of $10,000 with a 12-month initial term and 0.00% initial interest rate, there are no monthly payments for six months, followed by six monthly principal-only payments of $50.00 with an outstanding balance due. After the end of the initial term, if the balance is not paid off, there will be 36 monthly principal and interest payments of $307.30 based on the current rate of 8.75% APR beginning in the 13th month.* Based on a loan amount of $10,000 with a 18-month initial term and 0.00% initial interest rate, there are no monthly payments for six months, followed by 12 monthly principal-only payments of $50.00 with an outstanding balance due. After the end of the initial term, if the balance is not paid off, there will be 36 monthly principal and interest payments of $297.82 based on the current rate of 8.75% APR beginning in the 19th month.*

** Loan amount cannot exceed contract amount for the PV or Solar system. Installer must be a participating contractor. Current interest rate in effect as of 02/22/2012. This program is subject to change or discontinuation at any time by First Commercial Bank, N.A (USA) without notice.