Bank of Ireland has increased its Green Business Loan limit from €300,000 to €1m, supporting businesses or farmers looking for finance to reduce their costs and carbon footprint.
The bank said its Green Business Loan now offers amounts from €1,000 to €1m with extended loan terms of up to seven years and discounted variable interest rates ranging between 4.41% to 6.21%.
To avail of the loan, Bank of Ireland said that businesses must provide evidence of sustainability improvements, including clean transportation, installing LED lighting to replace fluorescent lights, rainwater harvesting technologies, renewable energy, solar technology and waste reduction measures.
John Feeney, CEO of Corporate and Commercial, Bank of Ireland, said the bank recognises that the path to sustainability can be complex for many businesses.
"Our goal is to make it easier and faster to access sustainable finance, with greater flexibility and choice. We are committed to helping businesses reduce their environmental impact while also lowering their operating costs," Mr Feeney added.
