Barclays New Loan Scheme To Help Green Investments

Fri, 02 May 2008

UK businesses have been given a helping hand in their efforts to finance green initiatives thanks to a new loan scheme by Barclays .

The bank has made £50 million worth of loans available to businesses undertaking investment in sustainability projects in the UK and will offer a cash back payment to those that sign up.

Working in partnership with the European investment Bank (EIB), the Barclays loan scheme is able to offer cash back payments from £600 to £51,000 for a range of capital expenditure projects that cost between £200,000 and £17 million, and loans of between £100,000 and £8.5 million with a minimum term of five years.

Barclays said the new loans will provide an essential part of green investment programmes such as reduced carbon operations .

Richard Lowe, corporate director for retail and wholesale at Barclays Commercial Bank said: "The bottom line benefits to retailers operating more responsibly are becoming increasingly acknowledged."

"Our research shows that 30 per cent of UK retailing companies now see the green agenda as an opportunity rather than a challenge."

He added: "We are committed to supporting customers that are reducing their environmental impact and this scheme will further encourage sustainable business practices by reducing the cost of borrowing ."
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