Carbon Trust boost for small businesses

News Article - 01 October 2008
Category: Business

The Carbon Trust has improved loan conditions for small to medium-sized enterprises (SMEs) having difficulties accounting for carbon in the credit crunch.

Interest-free energy efficiency loans have seen their maximum size doubled from £100,000 to £200,000 while the total loans pot has risen by 45 per cent to £31 million in 2008.

The loans help carbon emissions reporting for businesses by providing them with the capital needed to buy energy-saving technologies and are unsecured and repayable over four years.

However, the trust acknowledged the current market difficulties and so made the changes to the scheme, expecting that 20 per cent more carbon and energy savings will now take place this year than would have been possible before.

"We know that SMEs want to play their part in tackling climate change, and reduce their energy costs at the same time," said Hugh Jones, solutions director at the trust.

"But in the current economic climate, the tighter credit conditions are making it harder for small businesses to find alternative sources of funding."

He added that the projects SMEs take on with the loans will not only be good for the environment, but will help them control costs, giving them a stronger competitive edge.

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