Interest-free loans for businesses to cut bills and energy emissions

Businesses in Stoke-on-Trent can now get an interest-free loan to help them cut their energy bills and carbon emissions. 

Stoke-on-Trent City Council and Staffordshire County Council are working together to use £1.4m of government funding to support small and medium-sized businesses. 

The councils’ existing Green Solutions programme advises businesses on ways to become more environmentally friendly and reduce their energy consumption.  

That scheme gives grants of 50% (between £1,000 and £100,000) of the cost of following the advice given by the experts and introducing the improvements. It also offers a free training course for business owners.  

Now the Green Loan scheme can be used to cover the rest of the cost (between £5,000 and £100,000) with businesses being allowed two years to pay it back with no interest.  

Councillor Jane Ashworth, leader of the city council, said: “Small and medium-sized businesses play a vital role in our city’s economy. These entrepreneurs create jobs and attract investment into the area. 

“The cost-of-living, inflation and rising energy prices have been a challenge for them and we want to help. 

“Officers in the Green Solutions programme give out fantastic advice but some businesses struggled to quicky find the other half of the cost. 

“This new funding pot, which we’re launching in partnership with Staffordshire County Council, is going to make a huge difference to so many businesses.  

“It will see businesses become more energy-efficient which will lead to lower energy use.” 

To find out more about Green Solutions and other schemes please visit www.staffordshire.gov.uk/GreenSolutions and fill in the expression of interest form with your details, including your Companies House reference number. 

Staffordshire County Council’s cabinet agreed to join the scheme at its cabinet meeting in July.  

Staffordshire County Council’s deputy leader and cabinet member for economy and skills Philip White said: “The Green Solutions scheme offers a fantastic opportunity for businesses to make essential improvements to their operations that will support their growth, increase productivity and reduce carbon emissions and energy costs. 

“It’s a fundamental part of a business’s evolution that their operations become more sustainable, whether through improvements to their premises or production methods. 

“Green Solutions is already making a big difference to businesses across county and city which is fantastic, but we know meeting 50 per cent of costs to implement findings of energy assessments to access grants remain a barrier to many. That is why we’re launching the Green Loan Scheme – bridging the gap and providing easier access to those grants. 

“It is a county council priority to support our businesses and tackle climate change and we’re sure these joint programmes will help to deliver those commitments. We do need businesses get in touch now as there is a deadline for project completion.”