HVAC Financing Program

Whether you are a new customer connecting to our system, or an existing customer updating your gas equipment, ORUD wants everyone to be able to take advantage of clean, efficient natural gas heat. We can help you do that through financing. In a continuing effort to better serve our customers, we have recently partnered with TNBank to offer our Heating & Air Financing Program.

All you need to do is get a quote for natural gas heat (HVAC) from an ORUD-approved licensed contractor of your choice. Then call Chris Osborn or Nick Morris at TNBank at (865) 483-9444 to discuss your loan information.

View the full brochure here.

Rates and Terms

TNBANK offers a fixed rate 8.69% APR* for 60 months to qualified borrowers.  Bank fees apply according to their established fee schedule.  As of May 28, 2019, the loan fee is $150 on the anticipated loan amount of $5,300.

*Annual percentage rate (APR) is based on secured credit for the anticipated loan amount of $5,300 with a $150 financed loan fee plus credit report fee, UCC filing fees and taxes.  Disbursements are made directly to contractors pending completion of installation and passing inspection by ORUD.  APR reflects monthly payments of $110.02 for 60 months.  No down payment is required.  Actual fees and terms will be clearly disclosed prior to consummation.

Receiving Funds

Upon approval, your HVAC contractor will be notified of your approval and will schedule installation of the HVAC system.  Once the natural gas system is installed, call ORUD to request an inspection.  Once the HVAC unit passes inspection, the contractor will be paid directly.

Credit Approval

Credit approval and terms are based on the lender’s guidelines which require a minimum credit score of 700 and a debt to income ratio not exceeding 40%.  Other financing options may be available for applicants who do not meet the regular program guidelines.

Thank you to our community partner, TNBank, for the support of this program!

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