Holyrood launches SME efficiency loan initiative

Resource Efficient Scotland, a programme of Scottish Government-funded Zero Waste Scotland, has launched an Implementation Grant fund and an SME Loan fund to help businesses overcome barriers to implementing resource efficiency measures.

Loans available range from £1,000 to £100,000 and are interest free in most cases.

Small to medium enterprises (SMEs) and third sector organisations can address time and expertise challenges by employing someone on a short-term basis to undertake a project with a specific focus on energy, water or raw material efficiency or waste prevention, through the Resource Efficient Scotland Implementation grant funding.

According to Holyrood, projects could include:

Businesses can also benefit from loan funding to install biomass boilers, upgrade lighting, insulating or more efficient equipment to reduce raw material use and waste production.

Any applications must be supported by a qualifying free audit report, which can be carried out free by Resource Efficient Scotland, a government statement said.

It is estimated that by taking simple steps to improve resource efficiency, businesses in Scotland could save up to £2.9 billion.

Marissa Lippiatt, head of the Resource Efficient Scotland programme said: “Making resource efficiency a priority doesn’t just benefit the environment; it can also lead to cost savings and a real competitive advantage.

“We know that time, money and expertise can often be perceived as a barrier, particularly for small businesses. These funds can help overcome some of these barriers, and I hope to see businesses taking this opportunity and making progress in becoming more sustainable.”

To apply for a Resource Efficient Scotland SME Loan Fund loan click here.