Michigan Saves is a nonprofit green bank that offers financing programs for renewable and energy-efficiency improvements. Low interest financing is available for Michigan residential, commercial, multifamily, and public energy users.

Residential customer process to apply:

- Call (877) 867-8522 (experiencing some delays due to Covid)

or click this link

michigansaves.org/loancenter

• Will be asked for Adams & Sons contractor ID 202298 then standard program code 9269
• Will be asked to provide County of residence for available credit unions (Genisys CU services the entire State of Michigan so I have attached their direct deposit form)
• Email of loan decision will be sent within 10 minutes
• If approved move forward, if pending contact phone number of CU on loan decision email, if declined find another method of payment
• At completion, certificate of completion should be uploaded to created job sheet in NGEN

Residential sample monthly rate calculations based @ 5.5% (lower available for most FICO scores):

• $2,800 is eligible for up to a 2 year term (1 year per $1,000) = $105.83 monthly
• $3,000 is eligible for up to a 3 year term (1 year per $1,000) = $ 90.59 monthly
• $5,000 is eligible for up to a 10 year term (any loan over $5,000 eligible for up to a 10 year term with no prepayment) = $54.29 monthly
• $8,000 is eligible for up to a 10 year term (any loan over $5,000 eligible for up to a 10 year term with no prepayment) = $86.82 monthly
• $10,000 is eligible for up to a 10 year term (any loan over $5,000 eligible for up to a 10 year term with no prepayment) = $108.53 monthly

- Contractor fee 1.99% of financed total for any project

- Generator can be added as long as there is 1 additional eligible measure of at least $1,000

- Battery storage and PV charging eligible for financing as a stand alone measure

- Genisys "credit challenged" 7% up to $7500 for FICO 600-639

- One time reamortization available with no additional fee (apply tax credits for lower payments)

- MI Saves loan calculator link:

https://michigansaves.org/home-energy-loan-calculator/

- MI Saves current residential eligible measures:

https://michigansaves.org/residential-financing/?tab=eligible+improvements

- Mini split systems and duct sealing can be financed as standalone measures.

- Current Michigan Saves AC requirements:

• Contractors should not use Michigan Saves financing for stand-alone, 13 SEER AC units.
• Contractors can use Michigan Saves financing for stand-alone AC units with SEER ratings of 14 or higher.
• Contractors can use Michigan Saves financing for 13 SEER AC units that are installed with their matching high efficiency furnace (90%+) AND achieve a functional SEER rating of 14 or higher.