AIB launches new low-cost Green Business Loan at a variable interest rate of 4.95%.
Find out about AIB’s new Business Sustainability Loan available to support businesses in their transition to a low carbon economy and plan for a greener future.
As a leader in sustainable finance, AIB has launched a new green loan to help businesses transition to a low carbon economy. The low-rate Business Sustainability Loan, is available to all businesses including farmers, clubs, trusts and charities seeking to green their operations.
The highly competitive loan is available at a variable interest rate of 4.95% for amounts between €2,000 and €100,000, for each eligible loan purpose and is repayable over terms of between one and seven years.
The loan aims to support businesses investing in green and transition measures including renewable energy systems, forestry, green buildings (commercial and residential), zero emission vehicles, circular economy and waste management. All of which could help you to reduce costs for your business.
The new product is in addition to SME sector specific support and sustainability expertise to support you in your business to engage with sustainability.
AIB’s Managing Director, Retail Banking, Geraldine Casey said “SMEs are the backbone of the Irish economy, and we know our customers are working hard to transition their businesses to become greener. As part of our Customer First strategy, AIB is committed to ensuring we offer the best products including this new low-cost green and transition business loan, in a convenient way, so customers can focus on what matters most to them by investing in the future of their business and by extension, their communities. Greening your business can help reduce costs, drive efficiencies and competitiveness, attract new customers and staff, and, vitally, protect businesses against future climate risks.
AIB is proud to be a bank that’s central to the success of the Irish economy and the local communities that underpin it. Our team of business advisors provide a full range of products online, over the phone and through our 170 strong branch network, in communities we are embedded in across the country.”
Features of Business Sustainability Loan:
- Borrow between €2,000 and €100,000 for a single loan purpose.
- This loan is available to support businesses (including farmers, clubs, trusts and charities) to invest in green or transition to green activities.
- Loan terms up to 7 years.
- A low variable interest rate of 4.95%.
- Choose from a range of flexible repayments options so that paying back your loan is as stress free as possible.
What can you borrow for? Loan requests for eligible green or transition to green purposes are outlined below, including essential ancillary costs up to a maximum of €100,000 for a single loan purpose.
Easy Application Process – Recognising that time is valuable for businesses, the new product can be processed quickly and conveniently. Applications can be made in branch, via advisors or on the phone, with quick decisioning and e-signing.
Additional Supports for Businesses – In addition to the new low cost Business Sustainability Loan, AIB offer businesses support through their Steps to Sustainability Programme which provides an easy to follow on-line guide to help you to develop a tailored sustainability plan for your business.
AIB also provide specific help and sustainability expertise from our advisors in communities around the country, as well as a practical online course and sector specific guides which delve deeper into the actions that businesses in different sectors can take to green their business and ultimately save money.
To learn more please visit AIB’s new Business Sustainability Loan, click here and to find out more on AIB’s Steps to Sustainability, click here.