HomeArticlesNatWest to lower the threshold for green loan applications
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NatWest to lower the threshold for green loan applications
From October, NatWest will lower the threshold for green loan applications to £25,000, to help qualifying SMEs invest in sustainable energy solutions such as solar panels, electric vehicles, improved insulation or heat pumps.
To support SMEs on their journey to lower emissions, NatWest has partnered with the Federation of Small Businesses to analyse the impact and provide measures to alleviate the effect of the energy crisis.
From October, NatWest will lower the threshold for green loan applications to £25,000, to help qualifying SMEs to invest in sustainable energy solutions such as solar panels, electric vehicles, improved insulation or heat pumps.
Alongside this, the firm will provide £100 billion of Climate and Sustainable Funding and Financing to customers by the end of 2025.
“While the Energy Bill Relief Scheme offers key support for the day-to-day operation of business, it will not help in their transition away from fossil fuel reliance. This transition is of particular importance with the latest data from NatWest’s Sustainability PMI report having revealed that more than half of UK SMEs (51%) reported investing in green energy as a high priority for the year ahead, the largest percentage in the survey history.
Martin McTague, chair of the Federation of Small Businesses.
The rise in the cost of energy could have a severe impact on the transition of small and medium enterprises (SMEs) to lower emissions
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