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Carbon Trust interest free loan scheme

We can assist with online applications and we can apply on your behalf.

The Carbon Trust is an independent company funded by the UK Government. Its role is to help the UK move to a low carbon economy by helping business and the public sector reduce carbon emissions now and capture the commercial opportunities of low carbon technologies.

One activity is the Interest Free Loan Scheme which supports Small to Medium Enterprises (SMEs) to finance carbon saving projects.

A Cool Technology project can qualify because the energy consumed is normally only 15% of a refrigeration based system. The electricity savings results in significant carbon savings. It is normal to qualify for up to £5,000 of interest free loan per cooler based on a double shift operation.

The loan

  • Unsecured, interest free loans from £5,000 to £200,000 to SMEs to fund carbon saving projects.
  • Loan can cover the cost of equipment and installation.
  • The loan can cover both new and replacement equipment.
  • The maximum loan period is four years

Which companies are eligible?

The scheme is open to SMEs in:

  • England
  • Wales
  • Scotland

An SME is defined as:

  • Fewer than 250 full time employee
  • Less than £35 million turnover Or Less than £30 million assets
  • Not owned by a larger organisation

Companies must have been trading for at least one year. Types of companies include

  • Limited companies
  • Charities
  • Sole traders
  • Partnerships
  • Clubs
  • Friendly Societies
  • Voluntary Organisations

The scheme is open to all companies in Northern Ireland.

Which companies are not eligible?

Companies operating in agriculture, fisheries (including some parts of the food and drinks industry), transport (for funding of vehicles), or export-related activities are not eligible. The Carbon Trust Account Managers can give specific guidance on this.

What projects are eligible?

Project cost must be

  • greater than £5,000
  • less than £100,000

Projects must save

  • 1.43 kg CO2 per £1,000 of loan
  • at least £1,000 per year of energy

Which projects are not eligible?

  • New Build

    New Build projects are not eligible for loans. A new build project for the purpose of the loans scheme is a site that is undergoing construction i.e. green field or brown field site. If a building exists it is classified as a refurbishment and would be eligible for a loan. See rules on refurbishment below.

  • Refurbishment

    Existing equipment – if equipment already exists on-site then this should be used as the baseline against which potential energy savings should be judged i.e. the applicant has a boiler and wants to replace it with a more efficient boiler.

    No equipment – if the applicant wants to install equipment on-site where previously there was none the baseline adopted by the loan scheme to judge the potential energy savings is the current UK Building Regulations. Also if mobile equipment has been hired or sourced for peek periods this can be proposed as a baseline.

    The calculated difference between existing equipment or current UK Building Regulation (baseline) and the proposed equipment will be used to determine the maximum loan value.

Application procedure

  1. Check eligibility of customer by completing and submitting Eligibility Checklist.
  2. Complete and submit the Application Form. Cool Technology provides detailed support in the calculation of the energy saving of an EcoCooler installation compared to conventional refrigeration based systems. The information required to complete this analysis is:
    • Electricity costs per kWhr – day and night rates
    • Water cost per cubic meter
    • Shift pattern of operation
    • Location of project
  3. The Carbon Trust will then forward this to a consultant who will review the application in detail.
  4. The Carbon Trust then makes a formal loan offer to the customer – normally within 3 weeks of the application being submitted.
  5. The customer then signs the loan offer and has 3 months to complete the project.

Carbon Trust details

Web: www.thecarbontrust.co.uk/loans Loans Direct Line: 0113 306 6222

For detailed support contact either Cool Technology or contact the appropriate regional Carbon Trust department:

  • Scotland, North East and North West England: 07802 465 555
  • Midlands and Wales: 07802 465 556 or 0788 555 6267
  • South East and South West England, Greater London: 07802 465 557
  • Northern Ireland: 077252 484 39