{"id":201,"date":"2023-01-11T20:27:06","date_gmt":"2023-01-11T20:27:06","guid":{"rendered":"https:\/\/www.tclp.org\/on-bill-financing\/"},"modified":"2025-01-22T16:12:07","modified_gmt":"2025-01-22T21:12:07","slug":"on-bill-financing","status":"publish","type":"page","link":"https:\/\/www.tclp.org\/es\/on-bill-financing\/","title":{"rendered":"Financiamiento en factura"},"content":{"rendered":"<h1>On-Bill Financing<\/h1>\n<div>\n<p>Traverse City Light and Power is proud to offer its residential customers a program designed to help improve your home\u2019s efficiency while saving you money on your utility bills. Now you can finance these projects and make your payment to TCLP with your monthly electric payment!<\/p>\n<\/div>\n<ul>\n<li>\n        <a href=\"https:\/\/michigansaves.defidirect.com\/Application\/MISAVES\">TCLP Customers &#8211; Apply Now<\/a>\n    <\/li>\n<li>\n        <a href=\"https:\/\/www.newlook.dteenergy.com\/wps\/wcm\/connect\/dte-web\/home\">DTE Customers &#8211; Learn More<\/a>\n    <\/li>\n<\/ul>\n<div>\n<p style=\"text-align: center;\">For more information, call us at <a href=\"tel:12319224940\">231-922-4940<\/a> or email\u00a0<a href=\"mailto:jhardy@tclp.org\">jhardy@tclp.org<\/a>.<\/p>\n<\/div>\n<hr>\n<div>\n<p style=\"text-align: center;\">Access TCLP&#8217;s latest On-Bill Financing Report:<\/p>\n<\/div>\n<p>\n    <a href=\"http:\/\/www.tclp.org\/wp-content\/uploads\/2023\/12\/TCLP-Report-On-Bill-Financing-Program-V3.2-December-2023.pdf\">2019 On-Bill Financing Report<\/a>\n<\/p>\n<h2>Loan Details<\/h2>\n<ul>\n<li>\n<h5>Location<\/h5>\n<div>\n<p>Any Traverse City Light &amp; Power residential customer.<\/p>\n<\/div>\n<\/li>\n<li>\n<h5>Loan Type<\/h5>\n<div>\n<p>Unsecured consumer loan. Notice of the loan is recorded with the county register of deeds. Any unpaid amount can be added to property tax bill and enforced through a tax lien foreclosure process.<\/p>\n<\/div>\n<\/li>\n<li>\n<h5>Transfer of Loan<\/h5>\n<div>\n<p>If property is sold, the loan can stay with the property if agreed upon by buyer.<\/p>\n<\/div>\n<\/li>\n<li>\n<h5>Eligible Improvements<\/h5>\n<div>\n<p class=\"x_x_MsoNormal\"><span>Eligible improvements include any measure or piece of equipment that has energy savings documented by the\u00a0<a href=\"https:\/\/www.michigan.gov\/mpsc\/regulatory\/energy-optimization\/michigan-energy-measures-database\" target=\"_blank\" rel=\"noopener\">Michigan Public Service Commission<\/a>.\u00a0Including but not limited to:<\/span><\/p>\n<ul type=\"disc\">\n<li class=\"x_x_MsoListParagraph\"><span>air sealing<\/span><\/li>\n<li class=\"x_x_MsoListParagraph\"><span>air source heat pumps<\/span><\/li>\n<li class=\"x_x_MsoListParagraph\"><span>geothermal systems<\/span><\/li>\n<li class=\"x_x_MsoListParagraph\"><span>insulation<\/span><\/li>\n<li class=\"x_x_MsoListParagraph\"><span>water heaters<\/span><\/li>\n<li class=\"x_x_MsoListParagraph\"><span>windows<\/span><\/li>\n<\/ul>\n<p><span>Qualifying energy-saving home improvements must be installed by an\u00a0<a href=\"https:\/\/michigansaves.org\/find-a-contractor\/\" target=\"_blank\" rel=\"noopener\">authorized contractor<\/a>. A whole-home assessment with diagnostic testing is required for each financed project. <\/span><\/p>\n<p><span>Currently, renewable energy and EV charging stations are not allowed as eligible improvements for on-bill financing. TCLP strongly believes these are very important projects and is working on ways to help make these a reality for you. We will update this webpage as we have more information. In the meantime, please take a look at our <a href=\"https:\/\/www.tclp.org\/residential-rebates\/\">Residential Rebates<\/a> to apply for rebates on eligible energy-saving projects.<\/span><\/p>\n<\/div>\n<\/li>\n<li>\n<h5>Loan Amounts<\/h5>\n<div>\n<p>$5,000\u2013$30,000. Multiple loans per customer are allowed if the total amount financed does not exceed the maximum allowable loan amount. Multiple loans are consolidated into one loan at the current interest rate.<\/p>\n<\/div>\n<\/li>\n<li>\n<h5>Loan Term<\/h5>\n<div>\n<p>Up to 10 years or useful life of the measure, whichever is less.<\/p>\n<\/div>\n<\/li>\n<li>\n<h5>Loan Rates<\/h5>\n<div>\n<p>3% interest rate for loan terms up to 120 months.<\/p>\n<\/div>\n<\/li>\n<li>\n<h5>Repayment Mechanism<\/h5>\n<div>\n<p>Customers repay the loan through a per-meter charge on their monthly TCLP bill for electric services. The payment is considered part of the charges for electric services to the property. There is no penalty for early repayment.<\/p>\n<\/div>\n<\/li>\n<li>\n<h5>Key Underwriting Criteria<\/h5>\n<div>\n<p>Twelve consecutive months with no delinquencies on electric utility bill payment history. If an applicant has no more than one delinquency in the past 12 months, TCLP may pre-approve the applicant if there is no more than one delinquency in the last 24 months and the applicant has a credit score of 640 or higher. Applicants should not have any delinquent taxes, bankruptcies within the last three years (from discharge), foreclosures, repossessions greater than $1,000 or unsatisfied money judgements.<\/p>\n<\/div>\n<\/li>\n<li>\n<h5>Loan Agreement<\/h5>\n<div>\n<p>The loan agreement is between TCLP and the customer. Upon completion of the energy-efficiency improvements, TCLP pays the contractor directly and the loan payments begin.<\/p>\n<\/div>\n<\/li>\n<li>\n<h5>Eligible Properties<\/h5>\n<div>\n<p>Single-family (one- to four-unit) homes. Rental\/income properties are eligible provided the landlord meets program requirements.<\/p>\n<\/div>\n<\/li>\n<\/ul>\n<p><!--more--><br \/>\n<!-- {\"type\":\"layout\",\"children\":[{\"type\":\"section\",\"props\":{\"image\":\"wp-content\\\/uploads\\\/2023\\\/04\\\/Website-banner-1900-\\u00d7-300-px-9.png\",\"image_position\":\"center-center\",\"media_overlay\":\"rgba(0, 0, 0, 0.4)\",\"style\":\"primary\",\"title_breakpoint\":\"xl\",\"title_position\":\"top-left\",\"title_rotation\":\"left\",\"vertical_align\":\"\",\"width\":\"default\"},\"children\":[{\"type\":\"row\",\"children\":[{\"type\":\"column\",\"props\":{\"image_position\":\"center-center\",\"position_sticky_breakpoint\":\"m\"},\"children\":[{\"type\":\"headline\",\"props\":{\"content\":\"On-Bill Financing\",\"title_element\":\"h1\"}}]}]}],\"name\":\"Hero Inner\"},{\"type\":\"section\",\"props\":{\"image_position\":\"center-center\",\"style\":\"default\",\"title_breakpoint\":\"xl\",\"title_position\":\"top-left\",\"title_rotation\":\"left\",\"vertical_align\":\"\",\"width\":\"default\"},\"children\":[{\"type\":\"row\",\"children\":[{\"type\":\"column\",\"props\":{\"image_position\":\"center-center\",\"position_sticky_breakpoint\":\"m\"},\"children\":[{\"type\":\"text\",\"props\":{\"block_align\":\"center\",\"column_breakpoint\":\"m\",\"content\":\"\n\n<p>Traverse City Light and Power is proud to offer its residential customers a program designed to help improve your home\\u2019s efficiency while saving you money on your utility bills. Now you can finance these projects and make your payment to TCLP with your monthly electric payment!<\\\/p>\",\"margin\":\"default\",\"maxwidth\":\"2xlarge\",\"text_align\":\"center\"}}]}]},{\"type\":\"row\",\"props\":{\"layout\":\"1-3,2-3\"},\"children\":[{\"type\":\"column\",\"props\":{\"image_position\":\"center-center\",\"position_sticky\":\"column\",\"position_sticky_breakpoint\":\"m\",\"position_sticky_offset\":\"50%\",\"width_medium\":\"1-3\"},\"children\":[{\"type\":\"button\",\"props\":{\"fullwidth\":true,\"grid_column_gap\":\"small\",\"grid_row_gap\":\"small\",\"margin\":\"default\"},\"children\":[{\"type\":\"button_item\",\"props\":{\"button_style\":\"default\",\"content\":\"TCLP Customers - Apply Now\",\"icon_align\":\"left\",\"link\":\"https:\\\/\\\/michigansaves.defidirect.com\\\/Application\\\/MISAVES\",\"link_target\":\"blank\"}},{\"type\":\"button_item\",\"props\":{\"button_style\":\"default\",\"content\":\"DTE Customers - Learn More\",\"icon_align\":\"left\",\"link\":\"https:\\\/\\\/www.newlook.dteenergy.com\\\/wps\\\/wcm\\\/connect\\\/dte-web\\\/home\",\"link_target\":\"blank\"}}]},{\"type\":\"text\",\"props\":{\"column_breakpoint\":\"m\",\"content\":\"\n\n<p style=\\\"text-align: center;\\\">For more information, call us at <a href=\\\"tel:12319224940\\\">231-922-4940<\\\/a> or email\\u00a0<a href=\\\"mailto:jhardy@tclp.org\\\">jhardy@tclp.org<\\\/a>.<\\\/p>\",\"margin\":\"default\"}},{\"type\":\"divider\",\"props\":{\"divider_element\":\"hr\"}},{\"type\":\"text\",\"props\":{\"column_breakpoint\":\"m\",\"content\":\"\n\n<p style=\\\"text-align: center;\\\">Access TCLP's latest On-Bill Financing Report:<\\\/p>\",\"margin\":\"default\"}},{\"type\":\"button\",\"props\":{\"grid_column_gap\":\"small\",\"grid_row_gap\":\"small\",\"margin\":\"default\"},\"children\":[{\"type\":\"button_item\",\"props\":{\"button_style\":\"default\",\"content\":\"2019 On-Bill Financing Report\",\"icon_align\":\"left\",\"link\":\"http:\\\/\\\/www.tclp.org\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/TCLP-Report-On-Bill-Financing-Program-V3.2-December-2023.pdf\",\"link_target\":\"blank\"}}]}]},{\"type\":\"column\",\"props\":{\"image_position\":\"center-center\",\"position_sticky_breakpoint\":\"m\",\"width_medium\":\"2-3\"},\"children\":[{\"type\":\"headline\",\"props\":{\"content\":\"Loan Details\",\"title_element\":\"h2\"}},{\"type\":\"grid\",\"props\":{\"content_column_breakpoint\":\"m\",\"content_margin\":\"remove\",\"filter_align\":\"left\",\"filter_all\":true,\"filter_grid_breakpoint\":\"m\",\"filter_grid_width\":\"auto\",\"filter_position\":\"top\",\"filter_style\":\"tab\",\"grid_default\":\"1\",\"grid_medium\":\"\",\"icon_width\":80,\"image_align\":\"top\",\"image_grid_breakpoint\":\"m\",\"image_grid_width\":\"1-2\",\"image_svg_color\":\"emphasis\",\"item_animation\":true,\"link_style\":\"default\",\"link_text\":\"Read more\",\"margin\":\"default\",\"meta_align\":\"below-title\",\"meta_element\":\"div\",\"meta_style\":\"text-meta\",\"show_content\":true,\"show_image\":true,\"show_link\":true,\"show_meta\":true,\"show_title\":true,\"title_align\":\"top\",\"title_element\":\"h5\",\"title_grid_breakpoint\":\"m\",\"title_grid_width\":\"1-2\",\"title_hover_style\":\"reset\"},\"children\":[{\"type\":\"grid_item\",\"props\":{\"content\":\"\n\n<p>Any Traverse City Light &amp; Power residential customer.<\\\/p>\",\"title\":\"Location\"}},{\"type\":\"grid_item\",\"props\":{\"content\":\"\n\n<p>Unsecured consumer loan. Notice of the loan is recorded with the county register of deeds. Any unpaid amount can be added to property tax bill and enforced through a tax lien foreclosure process.<\\\/p>\",\"title\":\"Loan Type\"}},{\"type\":\"grid_item\",\"props\":{\"content\":\"\n\n<p>If property is sold, the loan can stay with the property if agreed upon by buyer.<\\\/p>\",\"title\":\"Transfer of Loan\"}},{\"type\":\"grid_item\",\"props\":{\"content\":\"\n\n<p class=\\\"x_x_MsoNormal\\\"><span>Eligible improvements include any measure or piece of equipment that has energy savings documented by the\\u00a0<a href=\\\"https:\\\/\\\/www.michigan.gov\\\/mpsc\\\/regulatory\\\/energy-optimization\\\/michigan-energy-measures-database\\\" target=\\\"_blank\\\" rel=\\\"noopener\\\">Michigan Public Service Commission<\\\/a>.\\u00a0Including but not limited to:<\\\/span><\\\/p>\\n\n\n<ul type=\\\"disc\\\">\\n\n\n<li class=\\\"x_x_MsoListParagraph\\\"><span>air sealing<\\\/span><\\\/li>\\n\n\n<li class=\\\"x_x_MsoListParagraph\\\"><span>air source heat pumps<\\\/span><\\\/li>\\n\n\n<li class=\\\"x_x_MsoListParagraph\\\"><span>geothermal systems<\\\/span><\\\/li>\\n\n\n<li class=\\\"x_x_MsoListParagraph\\\"><span>insulation<\\\/span><\\\/li>\\n\n\n<li class=\\\"x_x_MsoListParagraph\\\"><span>water heaters<\\\/span><\\\/li>\\n\n\n<li class=\\\"x_x_MsoListParagraph\\\"><span>windows<\\\/span><\\\/li>\\n<\\\/ul>\\n\n\n<p><span>Qualifying energy-saving home improvements must be installed by an\\u00a0<a href=\\\"https:\\\/\\\/michigansaves.org\\\/find-a-contractor\\\/\\\" target=\\\"_blank\\\" rel=\\\"noopener\\\">authorized contractor<\\\/a>. A whole-home assessment with diagnostic testing is required for each financed project. <\\\/span><\\\/p>\\n\n\n<p><span>Currently, renewable energy and EV charging stations are not allowed as eligible improvements for on-bill financing. TCLP strongly believes these are very important projects and is working on ways to help make these a reality for you. We will update this webpage as we have more information. In the meantime, please take a look at our <a href=\\\"https:\\\/\\\/www.tclp.org\\\/residential-rebates\\\/\\\">Residential Rebates<\\\/a> to apply for rebates on eligible energy-saving projects.<\\\/span><\\\/p>\",\"title\":\"Eligible Improvements\"}},{\"type\":\"grid_item\",\"props\":{\"content\":\"\n\n<p>$5,000\\u2013$30,000. Multiple loans per customer are allowed if the total amount financed does not exceed the maximum allowable loan amount. Multiple loans are consolidated into one loan at the current interest rate.<\\\/p>\",\"title\":\"Loan Amounts\"}},{\"type\":\"grid_item\",\"props\":{\"content\":\"\n\n<p>Up to 10 years or useful life of the measure, whichever is less.<\\\/p>\",\"title\":\"Loan Term\"}},{\"type\":\"grid_item\",\"props\":{\"content\":\"\n\n<p>3% interest rate for loan terms up to 120 months.<\\\/p>\",\"title\":\"Loan Rates\"}},{\"type\":\"grid_item\",\"props\":{\"content\":\"\n\n<p>Customers repay the loan through a per-meter charge on their monthly TCLP bill for electric services. The payment is considered part of the charges for electric services to the property. There is no penalty for early repayment.<\\\/p>\",\"title\":\"Repayment Mechanism\"}},{\"type\":\"grid_item\",\"props\":{\"content\":\"\n\n<p>Twelve consecutive months with no delinquencies on electric utility bill payment history. If an applicant has no more than one delinquency in the past 12 months, TCLP may pre-approve the applicant if there is no more than one delinquency in the last 24 months and the applicant has a credit score of 640 or higher. Applicants should not have any delinquent taxes, bankruptcies within the last three years (from discharge), foreclosures, repossessions greater than $1,000 or unsatisfied money judgements.<\\\/p>\",\"title\":\"Key Underwriting Criteria\"}},{\"type\":\"grid_item\",\"props\":{\"content\":\"\n\n<p>The loan agreement is between TCLP and the customer. Upon completion of the energy-efficiency improvements, TCLP pays the contractor directly and the loan payments begin.<\\\/p>\",\"title\":\"Loan Agreement\"}},{\"type\":\"grid_item\",\"props\":{\"content\":\"\n\n<p>Single-family (one- to four-unit) homes. Rental\\\/income properties are eligible provided the landlord meets program requirements.<\\\/p>\",\"title\":\"Eligible Properties\"}}]}]}]}]}],\"version\":\"4.4.17\"} --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On-Bill Financing Traverse City Light and Power is proud to offer its residential customers a program designed to help improve your home\u2019s efficiency while saving you money on your utility bills. Now you can finance these projects and make your payment to TCLP with your monthly electric payment! TCLP Customers &#8211; Apply Now DTE Customers [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":57,"comment_status":"closed","ping_status":"open","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-201","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.tclp.org\/es\/wp-json\/wp\/v2\/pages\/201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tclp.org\/es\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.tclp.org\/es\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.tclp.org\/es\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tclp.org\/es\/wp-json\/wp\/v2\/comments?post=201"}],"version-history":[{"count":42,"href":"https:\/\/www.tclp.org\/es\/wp-json\/wp\/v2\/pages\/201\/revisions"}],"predecessor-version":[{"id":5465,"href":"https:\/\/www.tclp.org\/es\/wp-json\/wp\/v2\/pages\/201\/revisions\/5465"}],"wp:attachment":[{"href":"https:\/\/www.tclp.org\/es\/wp-json\/wp\/v2\/media?parent=201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}