More interest free loans for small businesses will be available thanks to a £2.5 million funding boost.

The Scottish Government’s small business loans scheme offers interest free loans of up to £100,000 to help save energy or install renewable energy technologies.

Over 100 Small and Medium-sized Enterprises (SMEs) have already taken loans worth £2.5 million this financial year, the most in any one year since the scheme started in 2008, with estimated lifetime energy savings of 30,000 Megawatt hours.

The Scottish Government has now committed a further £2.5 million to help more small businesses slash their energy bills.

Speaking at the Scottish Energy and Environment Conference in Ayr, Energy Minister Fergus Ewing said:

“The small business loans scheme goes from strength to strength and is helping SMEs across Scotland cut energy costs, increase their competitiveness and help Scotland go low carbon.

“Thanks to new funding of £2.5 million, even more small businesses will now be able to use interest free loans to become more energy efficient and cut costs. And businesses choosing to install small scale renewables technologies will not only have their own green energy supply, they will be able to receive payment for supplying electricity to the national grid.

“This scheme is a vital part of the Government’s Economic Strategy to make Scotland a truly low carbon economy, and there has never been a better time for business to make that transition.”

Related information

* The scheme is aimed at Scottish businesses that fall within the EC definition of a Small and Medium-sized Enterprise (SME), private sector landlords, not-for-profit organisations and charities. Details of eligibility and the types of technologies supported are available on the Energy Saving Trust website.