What Energy Assets can we finance?
Solar Systems and Energy Efficient Lighting (LED) are the primary focus. Other energy assets can be considered on a case by case basis. If requesting finance for assets outside of solar systems and LED lighting, please contact us with the following details so a pre-assessment can be conducted:
• asset description
• unit cost
• supplier information
• expected customer benefit
• your business background.
Any loan amount over $10,000 for qualifying energy assets can be considered.
Who can supply the Energy Assets?
All energy asset suppliers and installers must be accredited with the chosen lender(s). We can help determine if a supplier or installer is already accredited. If the supplier or installer is not accredited an Accreditation Form must be completed and approved prior to settlement.
What information is required to assess the deal?
To assess an energy asset application we require the following financial information from you:
• last two years financial statements
• schedule of financial commitments
• interim/management accounts (if available)
• director’s Assets and Liabilities statements.
For settlement we will also require confirmation of any energy saving credits being assigned from you. Settlement can only take place after the completion of the asset installation.
What finance product is available?
All energy applications are available as a Chattel Mortgage only.
What terms are available?
Solar assets can be considered up to a 60 month term, and a small balloon may be considered (maximum 20 per cent) depending on the strength of the customer. Lighting (LED) assets will be capped at a maximum 36 month term with no balloon. Other energy assets will be assessed on a case by case basis.
Can an installation occur on a leased property?
Yes, solar system applications if the applicant is renting/leasing their business premises will also be considered. Given tenants are responsible for paying the energy/utility bill, they are incentivised to install solar systems on the building roof to offset their electricity costs. The building owner may be incentivised to install solar as this enhances the building’s energy rating and often attracts a higher quality tenant (such as a government department) as well as potentially obtaining higher yields.