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Why going green makes sense for small businesses
Why going green makes sense for small businesses
Staff writer
Posted 04/10/2023 Updated 22/02/2024 2 mins
Being environmentally friendly can help your business survive and stay productive.
Small and medium businesses are under immense pressure in a tough global economy while growth is hampered by ongoing power cuts and the devastating impacts of load-shedding. Many business owners are considering green funding models in response to South Africa’s energy crisis, helping to develop long-term business sustainability.
Considering an alternative energy solution for your business?
Affordable financing for clean energy solutions is the way forward, so access to this kind of financing should be a priority in your business banking. At Small Business Services, we offer small-to-medium businesses various finance options for solar energy solutions through both medium- and long-term loans.
The benefits of our small-business lending solutions include:
1. Flexibility
Loans can be repaid annually, semi-annually or monthly for up to 10 years, depending on the cash flow of the business requiring funding.
2. Sourcing options
Capital can be sourced from existing client facilities or ring-fenced for the specific purpose of renewable-energy funding.
3. Uninterrupted operations
Your business will stay powered up and productive through load-shedding. In the long run, since your electricity is essentially free once you have paid off your solar installation, you will also lower your costs.
4. Added revenue stream
Depending on local municipal regulations, you may be able to sell any excess electricity that you generate back to the power grid.
Your relationship banker can help you find the best way to fund your green energy solution
Alternative energy solutions ensure that your company can continue operations during load-shedding. With our funding solutions, you aren’t limited to solar power. We also cover wind turbines, hydroelectric equipment and more.
Considering an alternative or green energy solution?
Let us help you with the best funding solution for your business.
Step 1: Find the right solution for your business
For solar solutions, finance approval is subject to using suppliers that are approved in terms of PV GreenCard requirements. For other, non-solar solutions, contact your dedicated relationship banker or get in touch with us.
Funding can be obtained for 100% of the purchase price with flexible repayment periods between 5 years (for generators and inverters) and 10 years (for solar or other renewable energy solutions).
- What is PV GreenCard?
PV GreenCard is a standard of quality for your energy solution: ‘The PV GreenCard has been developed to promote safe and high-quality Solar PV installations. The PV GreenCard Programme focuses on education, skills development, and training to build installer capacity as well as improve standards development and compliance in line with international best practice.’
Step 2: Discuss your funding needs with a relationship banker
Once you have obtained a quotation for the energy solution that best suits your needs, please reach out to your relationship banker, who will discuss the best funding solution for your business.
Your relationship banker can help you find the best way to fund your green energy solution for your business. Accessing an existing bond on which you have built up equity is another effective mechanism to fund your sustainable energy solution. You can easily identify the financing costs of your installation for accounting and tax purposes. No deposits are needed, but a VAT refund on the equipment being purchased may be used to reduce the loan amount.
Greener energy solutions help the environment and protect your business against the effect high electricity costs and power interruptions have on your bottom line.
Learn more about Nedbank solar finance solutions.