An interest free loan scheme to help small businesses save money through energy efficiency has been extended.
The Carbon Trust is expanding its scheme to over a £100m in interest free, unsecured loans in an effort to help more businesses survive the recession by cutting their energy costs and carbon footprints. Loan amounts will now vary from £3,000-400,000.
The loan scheme has already been taking advantage of by thousands of businesses, most of which used the money to install new energy saving equipment, according to the Trust.
Bakery owner Jeff Greenall took out a £31,000 loan in 2008 to replace the oven and electric boilers the premises. Greenall said the bakery’s gas consumption dropped by 75% as a result and now saves 500 units of electricity every month.
Department of energy and climate change minister, Lord Hunt, said:
“Climate change is one of the biggest threats to our planet so it’s vital that everyone plays their part. Taking action offers a huge opportunity for businesses to save money on their energy bills as well as reducing emissions and driving the move to a low carbon economy.”
For more information on the loan scheme visit www.carbontrust.co.uk/loans or call 0800 085 2005.
© Crimson Business Ltd. 2009