The Solent Local Enterprise Partnership (LEP) is calling on local businesses in need of funding to get green capital projects off the ground to apply for the Solent Building Back Greener Loan Fund before the deadline of 14 January 2022.
Councillor Daniel Fitzhenry, Chair of the Solent LEP Net Zero Commission and Leader of Southampton City Council, said: "This loan fund is designed to fuel a green recovery of the Solent economy, with loans available for projects which will help accelerate the commercialisation of technology, innovations and systems, setting the region, and the UK, on the path to a Net Zero future.
"The impact of climate change will affect every aspect of our lives and our aim with this loan funding is to help businesses with low-carbon projects scale up or become more commercially viable, so greener options are within the reach of many more people."
The £5M Solent Building Back Greener Loan Fund is open for applications of between £100K and £1M for capital projects. Applications are being invited from private sector businesses, further education colleges and universities, and social enterprises located in the Solent area. Funding is available for capital projects that can demonstrate a contribution towards achieving Net Zero that can start by the end of June 2022, with a view to being completed by March 2024.
Priority will be given to applications for projects which align with the UK Government's Eligible Green Expenditures to meet the objectives of:
Full details of the Loan Fund, including videos of the webinars we have held, the bidding prospectus and supporting documents to be completed as part of the application process are available here.
The Building Back Greener Loan Fund supports the delivery of the Solent LEP's Ten Point Plan for Building Back Greener in the Solent.
Click on 'Find Out More' for information