What is the process for accessing a loan for the E-Bike Program?

1) Apply online.
2) Nelson Hydro Reviews the Loan Application
               -Pre-Approval: Email Confirmation issued with Loan #, link to the Terms and Conditions, link to the online Reimbursement Form, and the next steps.
               -Denied: Email explaining why the loan application was denied.
3) Purchase e-bike(s) and accessories.
4) Complete the online Reimbursement Form and send digital copies of invoices
5) Final Approval with Email Confirmation
6) Reimbursement Issued
7) Loan Payments Start

Show All Answers

1. Why is Nelson offering this program?
2. What is the process for accessing a loan for the E-Bike Program?
3. How long does approval take?
4. Who is this program for?
5. Why are renters not eligible for this program?
6. Why is this program only for City residents and not for Nelson Hydro customers outside the limits?
7. How will I be reimbursed?
8. How long will it take to be reimbursed for the purchase?
9. If I cannot purchase the bike upfront myself, what other options do I have?
10. Can I purchase the bike before I receive my letter of pre-approval?
11. What is the pre-approval based on?
12. If I am not pre-approved for the loan based on payment history, can I apply again after one year of clean payment history?
13. What happens if I default on my loan?
14. What kind of bike can I finance?
15. What if I don’t use my bike for commuting?
16. Are there any other administration fees I will need to pay to participate in the program?
17. Can I pay the loan balance before the amortization period is up?
18. Will I receive a balance statement?
19. What other rebates exist for purchasing an E-Bike?