Big Issue Invest is offering loans to charities and social enterprises which are struggling with rising energy costs.
Business leaders around the country have warned of mass closures due to the energy bills crisis. Which is why Big Issue Invest stepped up to help.
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 Group, is now offering loans of up to £150,000 for organisations to install measures such as more efficient lights, insulation or heat pumps to keep costs down.
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.
Additionally, permanent, money-saving improvements such as replacing old boilers, or replacing single-glazed windows can also be funded with the loans.
Grants from Big Issue Invest have already helped a community in Milton Keynes transform the way they get power, providing clean energy for the long run. Wolverton Community Energy, aided by funding from BII, has taken on projects including solar panels and helped insulate locals from sudden rises in energy prices.
Danyal Sattar, CEO of Big Issue Invest, said: “It’s an immediate response, we can do for organisations that are experiencing high costs right now. It is the right thing for future generations as well, as more efficient buildings, heating and lighting also tackle climate change.”
“With higher energy costs, money spent on energy saving and renewables can pay itself back quickly.”
Social enterprises and charities will need to show a clear energy saving case, and an ability to repay the loan. More details on who access the loan programme can be found here.