Only weeks after being made available to domestic customers, Engensa has now extended its SolarLoan to UK businesses.
The company says it represents a new option for businesses to invest in large scale solar with minimal up front costs. Up to £1,000,000 can be borrowed at low interest to purchase PV systems with businesses benefitting from both the Feed-in Tariff and reductions in energy bills.
The loan is repaid over a ten year period with the APR starting from around 6 percent. Conditions do apply with companies needing over £10m revenue and three years stable trading to qualify. The building owner owns the system outright and recieves all financial benefits from day one.
Engensa ceo, Toby Darbyshire, said: “In an environment where businesses are struggling to raise finance and cut operational costs, it is a no-brainer right now. Forward thinking businesses are naturally looking at energy costs over the long term and investing in solar without tying up significant upfront costs.”