Low-interest Loan

Manitoba Hydro offers low-interest loans to assist religious building customers with the cost of their building assessment as well as the implementation of appropriate Power Smart energy improvements. The loan is offered at an annual interest rate of 5.5 per cent and is subject to change. The monthly payments are incorporated into the facility's Manitoba Hydro electric or natural gas bill.

• for facilities with combined annual natural gas and electricity bills of less than $10,000, the maximum amount of the loan will be $15,000 per facility;
• for facilities with combined annual natural gas and electricity bills exceeding $10,000, the maximum amount of the loan will be $30,000 per facility.

All improvements must be made to existing Power Smart commercial program standards in order to qualify, and renovations can be done by the religious organization or a hired contractor.

Other loan information:

Up to $15,000 is available without an energy audit, or up to $30,000 with an energy audit, depending on your energy bills.

• the minimum loan is $500;
• the maximum term is 120 months (10 years);
• the minimum monthly payment is $15;
• no down payment is required.

Situations outside these parameters, or where financing in excess of $30,000 is required, will be considered on an individual basis.

Eligibility for loans

The following is a list of criteria for loan eligibility:

• the applicant must be a Manitoba Hydro customer and own the religious building;
• the applicant must have approved credit from Manitoba Hydro prior to proceeding with the work;
• the building must be detached, semidetached, or a mobile/modular building on a permanent location;
• Power Smart loans for religious facilities do not apply to buildings under construction or unoccupied.

If owners undertake their own renovation work, the loan can only be used to cover the purchase of materials and cannot include charges for the owners' or volunteer labour.

Please note that residences owned by the religious organization are not eligible for this loan. projects in progress or already completed at the time Manitoba Hydro receives the loan application are not eligible for the loan.

Loan procedures

• loans must be approved before work starts;
• building representatives must obtain any required permits;
• all approved work must be completed within six months of the date of signing of the loan agreement.

When the work is completed, the original receipt and the completion certificate must be forwarded to Manitoba Hydro Commercial Programs.

Manitoba Hydro has the right to visit the building at any reasonable time from the date of the agreement until 24 months after installation of building improvements.