Keep your savings while increasing the value of your home

Common Consumer Questions

We know that you may have questions about financing a home generator or new HVAC system.  Here are some faqs that should answer your questions about financing a home improvement project with POWERpay.  Our philosophy is pretty simple.  With over 50% of all homeowners that finance home improvement projects over $5,000, we believe that the best way to help our customers is to provide simple and straightforward products.   We are here to help you invest in your home so we provide low monthly payment options in the form of low-interest term loans.  Not high interest, high fee credit cards.  We also provide many more benefits to help lower your overall cost of ownership. Here are some FAQs that should answer most of your questions about how to finance a standby generator or HVAC financing.


What is POWERpay?

POWERpay is a new financing platform designed for homeowners and businesses looking to purchase a generator or HVAC equipment. We help you pay for your equipment and installation over time with low monthly payments.  Our terms are clear and straightforward. There are no hidden fees or no prepayment penalties.  You can pay off your loan at any time.

What Dealers and Equipment do you finance?

Any HVAC and Generator Dealer can provide POWERpay financing.  If your dealer does not offer it, ask them to sign up.  It’s Free for the dealer to sign up, takes only a few minutes to set up their account and they can process your loan in less than 48 hours.  We work with all of the major equipment manufacturers like – Generac, Cummins, Kohler, Briggs and Stratton and more.  On the HVAC side, we finance the most popular HVAC equipment manufacturers including Amana, American Standard, Armstrong, Bryant, Carrier, Coleman, Concord, Goodman, Heil, Lennox, Lux, Payne, Ruud, Rheem, Tempstar, Trane, York and many more.

Why should I choose POWERpay?

Over 50% of all home improvement purchases greater than $5,000 are financed.  Borrowing for home improvements is common, but what’s not common is that POWERpay actively seeks borrowers who want to invest in their homes.  For those customers, we offer long-term loans with low rates and no prepayment penalties.  In addition, we offer other incentives through our dealer network, like discounts on monitoring, warranties, maintenance programs and a Free Home Deductible Reimbursement (HDR) Policy.  Even though we are talking about a loan – it’s more than that to us.  It’s a membership of like-minded homeowners who are investing in their homes, businesses, and families.

How do I buy with POWERpay?

It’s easy. You can either work through your participating generator dealer or contact us directly.  Follow our simple application process. If you pre-qualify, you’ll be shown the monthly cost of the item and you can complete the process.

Why should I use POWERpay?

Our goal is to help you pay for your generator or HVAC purchases in a way that matches your budget. We make it fast and easy for you to pay over time. For many borrowers, rates may be lower than with a credit card or other alternatives. We are committed to delivering a unique & transparent customer experience.

How does the financing work?

Fill out an on-line application, receive an instant approval via secure private email, select the plan with your dealer, receive secure paperless closing documents. That’s it…make low monthly payments and have the peace of mind that you have protected your loved ones for years to come.

Where do I apply?

You can apply on our website – or with any participating HVAC or generator dealer.

How can I get approved for a loan?

Just fill out the simple on-line application and receive a decision in seconds. It’s really easy!

Who is eligible to apply for POWERpay?

U.S. residents over the age of 18 (19 for Alabama or Nebraska residents) are eligible, provided we can verify your identity.

Can I pay my loan back early?

Yes! You can prepay anytime for all or part of your loan. There is never a penalty for paying early.

What is the application process like?

It’s fast and easy. You’ll be asked to provide some basic information about yourself. If you qualify, you will receive an email with one or multiple loan options with a loan limit that may exceed the cost of your project.  You may opt to borrow more and add things like annual maintenance and monitoring to your loan.   Your dealer will provide the final details.   You can wait until a few days before the installation to complete the loan documents that will be delivered to you by your dealer.   All of the documents are electronic so you can sign everything from your home or office electronically.

Can I obtain a direct loan using POWERpay?

No.  POWERpay is only available to help to finance equipment and installation of backup power and HVAC systems through participating dealers.

Is POWERpay a bank?

No, we are not a bank. We are a finance company designed specifically for the backup power and HVAC industry.

Are payments secure?

It is very important to us that your personal information remains secure and encrypted. We install endpoint protection software and/or secure web gateways. There is a data protection policy in place to help guide resources on how to keep personal data secure.

How do I make payments?

Once your loan is processed your will receive your loan documents, welcome package, and payment instructions.  Generally, your first payment will be required in approximately 45 days.

How is the APR (annual percentage rate) determined?

We work with our Lender Network to look at the credit risk of you as a borrower, and to give you a rate that fits your credit profile. Your financing options are presented to you in clear, simple terms. You are never obligated to accept them. Unlike with many credit cards, POWERpay products strive to offer lower risk borrowers with lower rates. The Annual Percentage Rate or APR is the cost of credit as a yearly rate.

Why was I asked to pay for part of my purchase up-front?

Sometimes the financing options available fund some but not all of your total purchase. With some merchants, we allow you to split payments for your purchase by paying for part of the purchase price up front with a credit card, and financing the rest.  The credit card payment is processed separately and is not a down payment on your loan.

Why was I declined for a loan?

Unfortunately, financing options can’t be provided to everyone. If you believe a mistake has been made, please let us know. If you are declined, you will receive a notice within 30 days at the email address you provided to us, describing some of the reasons you were declined. Applicants are declined only for credit reasons.

I have a complaint, question or need help.

Please let us know right away. We work hard to do the best for our customers. We aim to treat you with respect and transparency. If we have fallen short of our goals, we’d like to know as soon as possible.  You can call us at 800-397-4485 or chat online 24 / 7.

When are my payments due?

Your first payment will be due approximately 45 days after the installation of your generator.  Subsequent payments are due every month after that, usually on the same day of each month.

Is POWERpay a credit card?

No. POWERpay is a consumer loan program.  You do not need to hold and manage yet another store card.

Does using POWERpay impact my credit score?

We use a soft inquiry to check your rate, which won’t affect your credit score. If we are not able to offer you credit or if you do not accept the terms, there is no impact on your credit score. Once accept the terms and are ready to complete your purchase we will notify the credit bureaus.