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Green up your business with grants and loans

Posted on: 2011-08-04 17:28:59

For an introductory free consultation, please ring Phyllis on 01942 829568 or email Phyllis@greatgreendeal.co.uk .

It is becoming increasingly important for your business to be more environmentally responsible. There are a number of grants, loans and government sponsored initiatives available. This can range from funding new energy-efficient equipment to free consultations which provide you with practical business advice.

PB Energy Solutions is aware that finding the right level of support and funds can be complex. Many grants, loans and initiatives are run by local authorities and central government, including the EU and some private commercial companies. The level of support required is dependent on where your business is located and the type of services you offer, the extent of greening up, its benefits and of course the overall environmental impact.  To achieve funding, you have to demonstrate why you think you are eligible; and present a business case for funding.

 

Finding and applying for funding can be a time-consuming process so we offer to source, investigate, apply and therefore enhance your prospects of attaining suitable funding.  We do this in stages, which as a package, can be split to suit your budget.  We follow the stages outlined below:

 

Stage One

We initially define your project and what you are looking to achieve. It may be that you are looking to reduce energy consumption, implement a Corporate Social Responsibility Policy or a larger project such as up-skilling a workforce ready for Green Deal Accreditation. This stage will identify the criteria you may be eligible for. We assess which is the most appropriate type of funding e.g. grant or loan? Loans are suitable for projects where benefits from an investment will be long term, allowing time to make the repayments.  Loans are used to finance measures for energy efficiency and waste reduction and are the most common. Some grants are for projects with a set of defined goals which can be measured against targets, certainly in the case of grant funding made in staged payments.  It is essential that targets are met otherwise funding can be withdrawn. In the case of environmentally beneficial plant & machinery, it may be better to obtain a loan. We will assess the processes if you intend to replace plant and equipment in order to be environmentally beneficial. If this is the case, you may be able to get a grant to finance part of the cost.  We also provide Enhanced Capital Allowance advice to assess if you have any unclaimed tax and to ensure you gain tax breaks on any new plant and machinery. If you require a Sustainable Business Growth grant or similar, these will be sourced at a more central government and national level.  For waste management and reduction, we can apply for schemes that fund measures to reduce your business’s waste.

Stage Two

We will assess the overall environmental benefit of your project. This will need quantifying so we provide energy audits to ascertain your baseline energy usage and energy wastage to assess your carbon reduction potential. This is very important as it will form the basis of your funding application and also gain better rates for any environmental loan. In addition, it is necessary to ascertain what finances you already have as only a very few grants will provide 100% funding.

Stage Three

We cost up the project for you and detail how you are going to spend the funding as part of the application. This will also enable you to estimate any potential costs savings which feeds into your budget planning process.  If you have a business plan, this will need updating to cover the proposed project in terms of the funding benefits as well as the environmental impacts to be achieved.  If you do not have a business plan, we will work with you to draw one up. It is important to have a business plan as you may often need it when applying for grants or loans.

Stage Four

When the above stages are completed, we find a suitable funding source. We are able to do this as we are continually updating our business intelligence on potential sources of grants and loans, and provide guidance on regional and local initiatives. We also use a number of electronic sites which provide details of specialist funding schemes. We keep updating as many schemes are frequently revised and closed depending on popularity of the fund. We therefore save you time and effort in applying for funding which may already have been closed. We are a member of several networking groups and are therefore able to gain knowledge from other suppliers and businesses who have already used grant funding for environmental projects.

Stage Five

We will write out your application for you, or assist you write one up, whichever suits your circumstances. Each scheme will provide advice on the application process in any event. However, some applications are confusing and difficult, therefore your accountant, or other accountant, may need to be involved – financial information must be correct otherwise the application will fail. Most grant applications are long and time-consuming and it is perfectly possible for you to complete them yourself.   If that is the case, we offer to proof read to ensure that errors are eliminated and to minimise the risk losing out because of a few simple mistakes.

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For an introductory free consultation, please ring Phyllis on 01942 829568 or email Phyllis@greatgreendeal.co.uk .