The Strategic Banking Corporation of Ireland (SBCI) welcomes Fexco Asset Finance as its fourth partner under the Energy Efficiency Loan Scheme (EELS).
This low-cost loan guarantee scheme is specifically tailored to the needs of Small to Medium Enterprise (SMEs), farmers and fishers investing in energy-efficient equipment to enhance their sustainability and reduce their energy costs.
Eligible investments include a range of energy-saving technologies, as set out on the SEAI’s Triple E Register for Products, including solar panels, heating and cooling systems, LED lighting, EV charging points, commercial appliances and lighting control systems.
EELS offers low-cost finance ranging from €10,000 to €150,000 at reduced interest rates and with repayment terms of up to 10 years. This repayment flexibility aims to ensure that the investment cost does not have a negative impact on the business’s existing cash flow.
Credit is available across a range of different finance products such as term loans, hire purchase and asset finance products, to provide the best match for the business’s funding requirements.
Minister for Finance, Michael McGrath said:
“The Government is committed to supporting Irish SMEs. We understand that businesses face significant challenges arising from the continuing high cost of energy. Nevertheless, businesses who avail of the SME Energy Efficiency Loan Scheme can enhance their competitiveness, address their energy costs, and boost their reputation in meeting customers’ sustainability expectations. Therefore, I welcome Fexco Asset Finance’s decision to join as an on-lending partner with the Strategic Banking Corporation of Ireland in relation to this scheme. It will ensure ongoing lower cost borrowing on projects tailored to the needs of business entities looking to reduce their energy bills. I urge businesses to continue to avail of investment opportunities that this scheme creates”.
SBCI CEO, June Butler said:
“I welcome Fexco Asset Finance’s participation in the SBCI Energy Efficiency Loan Scheme, the fourth on-lender to join this Scheme. Stimulating climate-friendly investment, supporting sustainability and the transition to a net zero economy is a key priority for the SBCI. We endeavour to promote sustainability through the development of targeted financial solutions such as the Energy Efficiency Loan Scheme, which address the challenges posed by climate change to SMEs and the broader economy. The Scheme aims to help Irish businesses become more energy efficient, innovative, and sustainable while reducing their carbon emissions and energy bills.”
Fexco Asset Finance CEO, Mike O’Halloran said:
“This is a milestone in our ongoing collaboration with the SBCI and reflects our commitment to continue to support the development of the Small to Medium Enterprise sector. This aligns with Fexco Group’s own sustainability and renewable energy ambitions to help in Ireland’s energy transition. We want to play a much bigger role and become a leader in the global green economy. The SME sector remains a vital element to our economy and will play a crucial role in helping the country achieve its climate goals. We are delighted to have this opportunity to support our customers to drive sustainable innovation, and create new jobs, new services which will deliver massive reduction in carbon emissions and costs in the coming years.”
For more information on how to apply, please click here.