The Strategic Banking Corporation of Ireland (SBCI) has opened a EOI call for On-Lenders to deliver the SME Energy Efficiency Loan Scheme (EELS). The closing date for submissions is 6th March 2022.
The Scheme is expected to launch in Q2 2022 and will support eligible SMEs to invest in energy efficient assets that will improve their energy efficiency and support the national objective of reducing carbon emissions.
Feedback from Irish finance providers shows that energy efficiency assets can be difficult to finance on a traditional secured basis, which deters asset based lenders from financing these assets. The provision of a portfolio loan guarantee can help to address this and increase the availability of finance for businesses wishing to invest in this area. The proposed €150m Scheme will act as a catalyst and gauge the level of demand for such a product from SMEs. This capped loan portfolio guarantee will be funded in part by the SBCI and backed by a Counter Guarantee provided by the European Investment Fund under its COSME1 program.
If you are interested in becoming an On-Lender for the Energy Efficiency Loan Scheme, you can find more information on their website at https://sbci.gov.ie/news/open-call-for-expression-of-interest-to-deliver-the-energy-efficiency-loan-scheme. Proposals submitted to the SBCI must conform to the requirements of the Call.
SBCI was established in 2014 to avail of national and international funding to make low-cost credit available to Irish SMEs. Credit is provided through on-lending partners who, in turn, lend directly to SMEs.