0% green business loan scheme launched today

Department of Economic Development offering loan towards the cost of energy efficient projects

The Isle of Man Department of Economic Development has today announced the launch of a 0% green business loan scheme.

The Department says the scheme offers a 100% loan of up to £20,000 towards the cost of projects that improve energy efficiency and is open to all business sectors where projects will involve energy efficiency improvements in Isle of Man business premises.

Each project will be assessed on its potential to deliver energy savings and preference will be given to those that provide the greatest reduction in CO2 emission.  Projects deemed suitable range from lighting/ lighting controls to compressed air systems/ controls to insulation upgrades.

The Department adds that for the last few years the Island has been committed to reducing its carbon footprint and the green business loan scheme will build on both these initiatives further enhancing the Island’s "green” credentials.