Businesses Urged To Make Use Of GBP100m Green Loan Fund

Fri, 01 May 2009

Britain’s business leaders have been urged to take advantage of the additional £100m in green interest-free loans being announced in last week’s Budget report.

Energy and climate change secretary Ed Miliband has called on businesses to contact the Carbon Trust to find out whether they are eligible for the new funding, which is being made available over the next two years through the government-backed company’s energy-efficient loan scheme .

He said: "This real help, delivered by the Carbon Trust in England, means that businesses in every corner of Britain can now improve their energy efficiency and make real savings on their energy bills at a time when every penny counts."

Under the green loan scheme, small and medium-sized firms (those with less than 250 members of staff or a turnover of under £40m) investing in energy-efficient technologies can receive unsecured loans to cover the cost of the project. The loans are then repaid, with no interest attached, over a period of up to four years.

According to the Carbon Trust, many companies find that by reducing energy usage by around 20 per cent they have more than enough money to cover the cost of the loan repayments .

It added that the new £100m funding will help save businesses £20m in annual energy bills while cutting carbon emissions by 140,000 tonnes a year.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page



 

Business Newsletter

Please enter your email below and subscribe to our monthly newsletter

Reduce mortgage paymentsSave on Your Mortgage

Would you like to save money on your mortgage? Fill out our quick mortgage enquiry form.

Health InsuranceProtect Your Health

Find Critical illness, Life and Private Medical Insurance PMI policies.