Charities and social enterprises wondering how they will keep the lights and heating on as energy bills shoot upwards have been offered a potential lifeline in the form of cheap loans to invest in renewables
Business leaders around the country have warned of mass closures due to the energy bills crisis, leading to the government announcing six months of help, capping prices at “less than half the wholesale prices anticipated this winter”.
In a bid to help businesses for social good find long-term solutions rather than a short-term fix, Big Issue Invest, the investment arm of the Big Issue, is now offering loans of up to £150,000 for organisations to install measures such as insulation or heat pumps to keep costs down.
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Big Energy Saving Loans are available for social enterprises and charities in England, ranging from £20,000 to £150,000 and can be also used for installing renewable energy equipment.
Permanent, money-saving improvements such as replacing old boilers, or getting rid of single-glazed windows can also be funded with the loans.