It’s good news for larger SMEs hoping to go green as the Carbon Trust announce an increase in the amount it can hand out in its interest-free energy efficiency loan scheme.
The interest-free loans, which are repayable over four years, have been increased from £100,000 to £200,000 with the aim of encouraging more businesses to replace inefficient technology.
‘In the current economic climate, the tighter credit conditions are making it harder for small businesses to find alternative sources of funding,’ explained Hugh Jones from the Carbon Trust. ‘We know that some companies found that the £100,000 limit made it hard for them to finance the more ambitious projects they wanted to invest in, such as large lighting installations, boilers projects, or multiple equipment purchases.’
It is hoped that the introduction of the scheme will see a 20 per cent increase in the adoption of energy saving tech this year.
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