To help Irish businesses reduce their energy bills and improve their sustainability, the Strategic Banking Corporation of Ireland (SBCI) is offering the Energy Efficiency Loan Scheme.

This loan guarantee scheme supports investment in energy-saving technology when reducing energy costs is critical for businesses that want to stay competitive and improve their future growth prospects.

Borrowers can benefit from reduced interest rates and finance amounts ranging from €10,000 to €150,000 with repayment terms of up to 10 years.

Credit is available across a range of finance products to provide the best match for the business funding requirements. Types of finance include term loans, hire purchase and asset finance products.

The SBCI Energy Efficiency Loan Scheme can fund investment in energy-efficient equipment, such as heat pumps, solar panels, LED lighting, commercial appliances, and other energy-saving measures.

The energy-saving equipment must be listed on the SEAI “Triple E Register for Products” to be eligible for funding. Products on this register all meet a minimum set of energy efficiency criteria and are of a best-in-class efficiency standard.

Businesses can apply through a straightforward two-step process that starts by completing the eligibility application form on the SBCI website.

Eligible businesses will receive an eligibility number (a code) that needs to be provided to one of the participating on-lenders as part of the credit application.

The Energy Efficiency Loan Scheme is available through AIB, Bank of Ireland, Fexco Asset Finance and Finance Ireland.

For more details and applications, please visit the SBCI website.