Green loans for manufacturers

Posted on 30 Apr 2008 by The Manufacturer

Barclays Commercial Bank has launched a new loan with cash back payments to support businesses in financing green initiatives.

Working in partnership with the European Investment Bank (EIB), Barclays is now able to offer cash back payments from £600 to £51,000 for projects costing between £200,000 and £17 million, and loans of between £100,000 and £8.5 million with a minimum term of five years.

The new loans will provide an essential part of green investment programmes such as reduced carbon operations.

“The bottom line benefits to manufacturers operating more responsibly are becoming increasingly acknowledged. Our research shows that 32 per cent of UK manufacturing companies now see the green agenda as an opportunity rather than a challenge. We are committed to supporting customers that are reducing their environmental impact and this scheme will further encourage sustainable business practices by reducing the cost of borrowing,” explained Ray O’Donoghue, head of manufacturing for Barclays Commercial Bank.