We offer a financing program to assist new residential customers whose electricity connection costs exceed $1,000 and commercial customers where connection costs exceed $5,000.
The SaskPower New Connects Financing program includes a minimum 25 per cent down payment, and loans will not exceed $2 million dollars per customer.
- New residential and farm service installations are eligible for financing from $1,000 to $2 million, not including a minimum required 25 per cent down payment.
- New commercial and industrial service installations are eligible for financing from $5,000 to $2 million, not including a minimum required 25 per cent down payment.
For loan applications greater than $25,000, we will estimate the creditworthiness of potential borrowers. We will take into account past credit history, personal net worth and debt servicing burdens for individuals, and the financial strength of corporations through the review of corporate financial statements.
Depending on the circumstance, we may require:
In all cases, for loans greater than $25,000 a caveat will be registered against the property being serviced. SaskPower reserves the right to refuse a loan application if it deems the applicant has inadequate financial ability to service the loan.
*Minimum residential/farm loan $1,000. Minimum commercial loan $5,000.
**only available on loans $5,001 and above