EOI form

What happens after you submit the form?

  • We check whether your application is suitable, based on your responses in the EOI form, and we may ask for more details from you.
  • We then send you our loan agreement template so that you can see what you will eventually need to sign if your solar and/or energy efficiency project goes ahead.
  • Please make sure your decision makers, including your Board, are familiar with the way CORENA loans work and have seen the loan agreement template, and that they give ‘in principle’ approval to go ahead subject to mutually satisfactory project details being worked out. It is important to have their approval at this stage since working out the project details requires time and effort from you as well as from CORENA.
  • We will then recommend a suitable size and type of solar installation and/or energy efficiency measures and ask you to obtain quotes (if you don’t have quotes already). Please note that we insist on top quality products, and you must use an accredited installer. Generally we like to see 2-3 quotes, but if a local installer who wants to support your organisation has offered you a particularly good deal, one may be enough.
  • Our advisors will recommend which quote you should accept, or perhaps ask one of the quoting companies to quote on a better size or type of solar installation.
  • Once you and CORENA agree on the preferred quote, we will advise you of the expected savings on your power bills (conservative estimate) and suggest a slightly lower amount as the monthly/quarterly repayment instalment amount. If you are covering some of the cost yourself, the repayment instalment amount will take into account the proportion of the total cost covered by our loan.
  • At this stage, please confirm approval from your Board for the proposed project details, its cost, the loan amount you require, and the repayment schedule.
  • We will then add your project to our funding queue. Putting you in our queue means CORENA commits to raising enough funds for your project and, once we reach the target amount, we will give you an interest-free loan to pay for your project. It also means that you are committed to the project (unless unforeseen problems arise). Note: the loan agreement is not signed until we have raised the target amount for your project, but it looks very bad for us if you change your mind after we’ve started accepting donations specifically for your project.
  • Once we start raising the funds for your loan, we appreciate any efforts you can make to raise the local profile of your project. This will depend on what suits your organisation, but might be a mention in your newsletter, a poster in your window, a donation jar at your front desk, or an article in a local newspaper.
  • When we are close to reaching the funding target for your project, we’ll ask you to book in an install date and sign the loan agreement with us. We then send you the loan cheque so you can pay the installer.
  • Finally, you just need to send us photos of the work-in-progress and the completed project for display on our website so that the people who have donated can see what their money has achieved!