Services & ProgramsFinancing New Commercial Gas Equipment Financing Piedmont Natural Gas will finance the purchase of your new natural gas equipment. As soon as you determine the natural gas equipment that best serves your needs and you have an estimate on the equipment, you may finance directly through Piedmont by completing and submitting a credit application. A Piedmont representative will contact you as soon as the application is received.
Propane Equipment Conversion Financing Subject to a credit approval, Piedmont will finance the price of converting existing propane equipment to natural gas usage and for new natural gas equipment installed under the same contract. The equipment or conversion must be an existing commercial building on the Company's distribution system that had no prior natural gas account. Rates are as follows are are subject to change based on regulatory commission decisions, economic factors, or due to written notice by Piedmont Natural Gas. The chart below shows the financing rate and terms for commercial gas equipment. Commercial Equipment Financing*Terms | Revised Rate | Applicable To: | Annual terms up to 36 months | Prime Rate** | | Annual terms up to 36 months | Prime Rate** plus 2% | |
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After December 1, 2006, all future Prime Rate changes will prompt a change to Piedmont's equipment rates on the first day of the month following the Prime Rate Change.
The Prime Rate is currently at 8.25% * For customers with approved credit, the Commercial Equipment Financing Program requires a minimum down payment of 10% of the installed price. Propane Conversions do not require a down payment.
** Prime Rate means the rate of interest per annum announced by Wachovia Bank, National Association, from time to time as its prime rate in effect at its principal office in the City of New York, NY.
*** Includes space heating equipment when financed with other year-round equipment with a load factor of 60% or more. back to top
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