Access to finance is one of the biggest barriers that prevents Greater Manchester businesses from adopting green technologies and starting the journey to net zero.
While green technologies can be an affective cost saving tool in the long-term, installation and initiation can prove costly.
In this challenging economic climate, when businesses main priority is staying afloat, finding the money to implement renewable energy sources, improve energy efficiency or invest in electric vehicles isn’t always a priority.
However, carbon reduction methods can help to reduce annual energy bills and save money in the long-term, and so it’s worth the investment.
Luckily, there are a range of tailored green finance options available to help businesses from high-emitting manufacturers to SMEs to implement green technologies and initiate projects that can reduce their carbon footprint.
Green Economy hosted a webinar to discuss how to create a compelling business case that articulates the benefits of decarbonising your business, as well as the likely return on investment and payback periods you can expect from energy efficiency and renewable energy technologies.
They also explore the green financing landscape to help you understand what support packages are available to businesses.
Before we begin, to help you navigate the complex and varied landscape of support and green finance, we've identified some free to use tools available for Greater Manchester businesses.
GC Business Growth Hub's Business Support & Funding Finder
Designed to help business owners navigate the landscape of publicly backed business support in Greater Manchester.
By answering a few simple questions, GC Business Growth Hub's Business Support & Funding Finder can identify what support and funding is available for your business, based on your individual business needs and goals.
LLoyds Green Buildings Tool
Existing Lloyds customers can access their Green Buildings Tool, an interactive tool that can help you identify energy-efficient investments in your buildings and calculate your savings over time.
To help you gain a better understanding of the green financing options out there for your Greater Manchester business, we've collated them all in one place.
Know of a Green Finance solution we haven't included? Get in touch and let us know so we can make sure its featured.
GC Business Finance
From start up loans to growth loans, GC Business Finance is a not-for-profit lender that specialises in simple, hassle-free loans to support businesses in the North West. They will work with you to find the best finance option for your business.
GC Carbon Reduction Grant
SMEs in Greater Manchester may be eligible for GC Business Growth Hub's Energy Efficiency Grant which offers between £2,000 and £25,000 to fund 50% of energy efficiency improvements such as LED lighting and heating equipment upgrades.
GMCVO Social Investment
For social enterprises across Greater Manchester, GMCVO can offer debt financing which can cover the renovation and refurbishing of buildings to make them more energy efficient. There are two funds available depending on the stage of your social enterprise.
FW Capital Debt Finance
FW Capital can offer debt finance to SMES with business loans of between £100,000 and £750,000. Available for SMEs that can demonstrate growth potential, this loan can cover hiring staff, purchasing machinery, moving premises as well as energy efficiency and low-carbon tech.
Siemens equipment and technology finance
Siemens smart finance solutions allow businesses of any size to access the equipment and technology needed to build a better future, including green tech by forming a long-term strategic partnership with businesses. Their unique range of finance products provide tailored solutions including energy-efficiency programs and usage-based financing.
Siemens Project Finance
Siemens Financial Services is a reliable, trusted lender with both global expertise and a local knowledge base to meet the needs of all businesses. Their project based debt finance and equity investments can be tailored to the specific needs of your next energy project.
Virgin Money Sustainable Business Loans
Do you run a sustainable business? You may be able to take advantage of Virgin Money's new loans that make borrowing cheaper for sustainable businesses to help encourage growth to create a more sustainable society.
NatWest Green Loans
Support for businesses to fund a range of eligible sustainability projects including retrofit, low carbon heating, renewable energy, energy storage, electric vehicles and agriculture with a range of borrowing options from £25,001.
NatWest Green Asset Finance
Green Asset Finance is specifically available for zero emission vehicles and other assets which may help your business be more sustainable. This includes agricultural machinery, buses, cars, coaches and vans. Loans of between £25,000 and £10m is available to UK businesses.
Barclays Green Loan
Helping businesses to future-proof and become more competitive. SMEs can borrow up to £5m to fund ygreen projects including green energy and sustainable projects. Your business must have fewer than 250 employees and a turnover of less than €25m.
HSBC Green SME Fund
Designed to make investing in sustainable solutions more accessible and rewarding for businesses, HSBC’s Green SME Fund is available to UK SMEs with a group annual turnover of up to £25m. The loans cover the most commonly used green projects including renewable energy, waste management, sustainable transport and energy efficiency.
Lloyds Clean Growth Financing
For businesses with between a £3m - £25m turnover, Lloyds offers discounted lending for projects which reduce emissions, improve energy efficiency, reduce waste, improve water efficiency and support low carbon transport. Learn more.
Whether you're just getting started or need specific help with a low-carbon project, contact our team for free, personalised advice around how to reduce the carbon emissions and energy costs of your Greater Manchester business, no matter what size or industry.
