AIB has launched a new Green loan to help businesses transition to a low carbon economy.
The low-rate Business Sustainability Loan is available to all businesses including farmers, clubs, trusts and charities who want to "green" their operations.
The new loan, which has a term of between one and seven years, offers a variable interest rate of 4.95% for amounts between €2,000, up to a maximum of €100,000.
The loan will support businesses investing in green and transition measures including renewable energy systems, forestry, green buildings (commercial and residential), zero emission vehicles, circular economy and waste management.
As well as the new Business Sustainability Loan, AIB also offers SMEs support through its Steps to Sustainability Programme which provides an easy to follow on-line guide to help businesses develop a tailored sustainability plan.
AIB's Managing Director, Retail Banking, Geraldine Casey, said that SMEs are the backbone of the Irish economy and the bank knows its customers are working hard to transition their businesses to become greener.
"Greening your business can help reduce costs, drive efficiencies and competitiveness, attract new customers and staff, and, vitally, protect businesses against future climate risks," she said.
Ms Casey said that AIB is proud to be a bank that is central to the success of the Irish economy and the local communities that underpin it.
"Our team of business advisors provide a full range of products online, over the phone and through our 170 strong branch network in communities we're embedded in across the country," she added.
