Green Business Loan

Energy-efficient business loans

Offering discounted finance to businesses who want to implement energy-saving initiatives in order to reduce their carbon footprint and their costs.

Note: For loans up to €120,000 apply online or call (1890 365 222). For loans over €120,000 visit your local branch

Green Business Loans

Making your business more energy-efficient can be an effective way of reducing operating costs while being kinder to the planet.

The Bank of Ireland Green Business Loan offers discounted finance to businesses who want to implement energy-saving initiatives in order to reduce their carbon footprint and their costs, for example, LED lighting to replace fluorescent lights, more energy-efficient heating and cooling systems hence reducing reliance on oil and gas.

Grants available through the Sustainable Energy Authority of Ireland* may also help you with the cost of making your business more energy-efficient.

Features

  • Flexible repayment terms
  • We can tailor loans to suit your cash flow
  • Borrow from €5,000 to €300,000 per business
  • Variable Interest Rates of 5.26% (Secured ) or 6.26% ( Unsecured )1
  • No arrangement fee
  • Terms between 3 and 7 years

To find out what the current Small Business and Agri Rate is, please click here

Who can apply

The Green Business Loan is aimed at enabling businesses who are seeking funding support up to €300,000 for green initiatives that are environmentally focused.

Typically, the projects might fall into the following categories:

  • Energy efficiencies from processes/distribution
  • Recycling/waste improvement & treatment efficiencies
  • Energy cost reduction
  • Premises energy (retro)fit efficiency improvements
  • LED lighting, refrigeration, insulation etc
  • Marketability/improvement of product
  • Reduced community emissions
  • Wind/water/solar technologies
  • Renewable energy
  • Rain water harvesting.

Projects specific to Agriculture might include:

  • Efficiencies from processes
  • Sustainable farm operations (organics etc)
  • Emission (methane) reduction programmes etc
  • Recycling/waste improvement efficiencies
  • Land reclamation / afforestation
  • Energy cost reduction
  • Premises energy (retro)fit efficiency improvements
  • Wind/water/solar technologies
  • Rain water harvesting.

Borrowers may need to confirm or provide proof of work being undertaken to enhance sustainability or retro-fit their business in order to qualify for a Green Business Loan.

Representative example

A Green Business Loan of €300,000 at a secured rate of 5.26% over a 7 year term will require 84 monthly repayments of €4,273.68. The total cost of credit is €58,989.12. Total amount repayable: €358,989.12. This discount would represent a saving of €5,924.52 over a 7 year period when compared with the non discounted rate.

A Green Business Loan of €50,000 at a unsecured rate of 6.26% over a 7 year term will require 84 monthly repayments of €735.90. The total cost of credit is €11,815.60. Total amount repayable: €61,815.60. This discount would represent a saving of €1,004.64 over a 7 year period when compared with the non discounted rate.

Security may be required. Level of security required and rate applicable, will be determined by the amount, purpose & term of facility, in conjunction with the nature and value of the security being offered.
Over 18 years only. Lending criteria, Terms and Conditions apply. Maximum credit of €120,000 available for online applications.

*Bank of Ireland is not responsible for the information on third party websites

WARNING: If you do not meet the repayments on your credit facility agreement, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
WARNING: The cost of your repayments may increase
1 The interest rates quoted include a discount of 0.5% off the margin that the Bank applies to the Small Business Agri Rate for loans up to a maximum of €300,000.