Year-Long, Interest-Free Payback Plan
Budgeting for new expenses is easier when you can spread out the payments. The Small Business Advance, or “Advance,” allows SMECO’s commercial members who enroll in the Small Business Solutions Program to pay back expenses of $1,000 or more (typically about 20% of the total project cost) over 12 months, through their monthly SMECO utility bills. And the repayment carries no interest charges.
Frequently Asked Questions
No credit check is required.
It could take up to three billing cycles from project completion before the first monthly charges appear. The repayment amount will be displayed as “Small Business Advance.”
Twelve months. After that, the posting automatically stops, assuming that each repayment amount was paid in full each month.
The underpayment will be added to your next utility bill.
EmPOWER Maryland programs are funded by a charge on your energy bill. EmPOWER programs can help you reduce your energy consumption and save you money. Learn more about EmPOWER and how you can participate.