Isle of Man News - POSTED Thu 24-01-2019

Financial support for businesses trying to go green

by TH

Financial support for businesses trying to go green  - picture

Businesses on the Island are being offered financial support to make their operations more energy efficient and lower their energy costs.

The Department for Enterprise has re-launched the Green Business Loan Scheme – as the Business Energy Saving Scheme.

Under the scheme businesses can get a 100 per cent interest free and unsecured loan towards the cost of energy efficient projects.

Financial assistance – ranging from £1,000 to £20,000 – an increased payback period, fast-track applications and extended eligibility criteria.

Minister Laurence Skelly says: "The Business Energy Saving Scheme, in its previous guise, has been in operation since 2011 and has supported a wide range of energy efficiency projects on Island.

"The department has funded over 25 energy saving projects, worth over £230,000 to local businesses.

"As a department we continue to adapt and evolve, the Island’s future energy needs must be addressed and we believe these changes not only improve accessibility to the scheme, but provide greater incentives to local businesses to reduce their carbon footprint whilst increasing business for the local energy sector."

For more information click HERE.

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