Financing Alternatives

Instead of assuming that the selected vendor will have a good financing option, we decided to investigate financing alternatives.

We selected Citibank.

[edit] Vendor Contact Information

Chase

www.chase.com

Apply By Phone: 1-866-370-9935

Monday through Friday 8:00 AM - 10:00 PM ET,

Saturday 9:00 AM - 9:00 PM ET

Sunday 10:00 AM - 7:00 PM ET)

Clean Power Finance: cleanpowerfinance.com; 877-976-5279; infonow@cleanpowerfinance.com; Bret Robin

Washington Mutual Bank: www.wamu.com; Curtis H. Yettick, Loan Consultant; 408-448-9305

Vendor	Type	Term of the loan	Initial Equity Line	Draw down period	Current Rate	Maximum Rate	Closing Costs	Annual Fee	Notes
Bank of the West	Prime -1%	10 Years	$50,000	Unknown Draw down period	7.25%	18%	$0	$75 waived for the first year	Requires automatic withdrawal payments from a checking account. $25K draw required on opening. This was an unsolicited offer through the mail.
Chase	Rate unclear in solicitation	Unclear - included a 5 Year option	$50,000 - $500,000	Not stated in solicitation	7.74% to 9.75% APR	Not stated in solicitation	Origination Fee of $399	Not stated in solicitation	$4K draw required on opening. This was an unsolicited offer through e-mail.
Citi	Prime - 0.75	30 Years	$75,000	Ten Year Draw down period	7.25%	18%	$0	$50 applied on first anniversary	.50% interest deduction for the first six months. $25K draw required on opening. This was based on an unsolicited offer through the mail.
Clean Power Finance	Type	10 yr interest only - 10 to 15 yr payback	$50K	10 yr	7.875/7.625 w/auto pay	18%	Home Appraisal Fee	$75 annual 1% origination fee ($500)	$317 for first ten years for %50K, $500 fee for holding less than 36 months
Washington Mutual Bank	Type	Term of the loan	Initial Equity Line	Draw down period	Current Rate	Maximum Rate	Closing Costs	Annual Fee	Notes