I'm with Ken. It sounds like you have a single phase motor, and your typical VFD requires a 3 phase motor to function.
With that said, the KBAC-27d is one of the few options out there that will get you 1.5hp on 110VAC. Most of your sub $100 chinese made VFDs wiill require 220VAC input, or if they do use 110VAC, will only work for a 1hp motor or smaller.
If you keep an eye out in your local classifieds, you may be able to find a suitable 3 phase motor for relatively cheap, or AutomationDirect.com sells the IronHorse motors for around $200.