Theo Paphitis of Dragon Den's fame has been rather busy lately. Whenever I listen to the radio, there he is driving home the Carbon Trust’s message about the Big Business Refit and the interest-free loans that are available from £3,000 to £500,000. You see the Carbon Trust has provided a pot of £100 million in interest-free loans to invest in energy saving equipment such as variable speed drives and motors. However, uptake on the loans has been slow and there is a real danger that the money will be withdrawn as the government struggles to balance the books after the recession. Hence the upsurge in publicity: at least the government can then say it tried.
With the government facing up to the prospect of funding cuts in everything from healthcare to transport in order to plug the ever expanding financial black hole the country finds itself in, it is increasingly likely that it will withdraw funding to the manufacturing industry if they fail to take advantage of what is effectively “free money”.
End-users need to act fast before the loans are withdrawn. The advantages of investing are compelling: improved energy efficiency, lower energy bills, a healthier balance sheet and the fact that the loans are interest-free.
Using an interest-free loan to obtain energy saving equipment, effectively means businesses get the equipment free of charge, its cost being paid for out of the savings achieved through reduced energy bills. For some this could play a crucial part in survival.
So why wait? Applying for a loan is straight forward. Loans are unsecured ranging from £3,000 up to £500,000 at 0% interest, with payback periods typically under 18 months.
Apply for an interest free loan here
Why do you think organisations are not taking advantage of the loans?