The Welsh Government and the Development Bank of Wales have launched a £10 million Green Business Loan Scheme to assist businesses in Wales to cut their energy costs and become more energy-efficient. The scheme will run for 3 years.
Projects eligible for the scheme include investing in renewable energy technology, improving energy efficiency within buildings, upgrading systems to decrease energy usage, and water usage and waste reduction/improvement.
To make it easier for businesses to make the up-front investment required to become environmentally sustainable, the loan scheme will offer discounted interest rates and flexible repayment dates. Businesses that have been trading for two years or more can apply for a green business loan from £1,000 up to £1.5 million.
The Welsh Government’s Business Wales service is also providing support and advice to help businesses reduce their carbon footprint which can be either fully or part funded.
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