SBCI Energy Efficiency Loan Scheme (EELS) In July 2022 The Government through the Strategic Banking Corporation of Ireland (SBCI) launched the Energy Efficiency Loan Scheme (EELS).

The purpose of the €150m EELS scheme is to support eligible SMEs to invest in energy efficient assets that will improve their energy efficiency and support the national objective of the Government’s Carbon Action Plan.

The launch of EELS makes available superior finance for businesses wishing to invest in this area.

The features of the EELS loan include:

· Loans from €10,000 to a maximum of €150,000 per borrower.

· Loan terms of between 1 to 10 years, depending on the purpose of the loan.

· Loans may be secured by the asset being funded only. Personal guarantees are not permitted.

· Loans may only be used for the purposes of upgrading the energy efficiency of the enterprise.

To be eligible for inclusion, the asset to be financed must be listed on the SEAI’s Triple E Product Register 3 (register of energy efficient equipment).

Allowable Loan types include:

Term Loans, Hire Purchase and Asset Finance products.

Who can apply for a loan?

· Micro, small or medium-sized enterprises which employ fewer than 250 persons; and

· Have an annual turnover not exceeding EUR 50 million, and/or an annual balance sheet total not exceeding EUR 43 million.

Contact Solarsure.ie today for assistance with your finance needs