We’re helping local businesses unlock savings with Environmental Upgrade Finance
Businesses in <Council> can access Environmental Upgrade Finance for projects that help them save money and improve their economic and environmental performance.
Environmental Upgrade Finance is a loan for building upgrade works, repaid via quarterly council rates. A lender provides the upfront capital for the works, which the business then repays through the council rates system over periods of up to 20 years. Council then remits it back to the lender.
How does it work?
Environmental Upgrade Finance involves a three-way agreement between the business owner, council, and lender, called an Environmental Upgrade Agreement (EUA). It provides an incentive for building owners to upgrade their infrastructure and improve the value of their property. If the property is leased the building owner can easily share the repayments with their tenants, allowing tenants to benefit from reduced operating costs, and owners to improve the value of their asset.
The key features that make it different to traditional finance are:
Benefits to businesses
By using this finance to fund their building and environmental upgrades, businesses can benefit from:
What can be funded?
Finance can be used to fund a broad range of upgrade works, such as solar, waste, and water projects. It just needs to improve the energy, water, environmental efficiency or sustainability of existing buildings. Popular projects include:
To qualify, applicants need to meet the eligibility criteria listed below as well as any credit criteria set by the lender:
Learn more about eligibility by contacting a participating lender.
Have a look at these frequently asked questions from Better Building Finance.
Environmental Upgrade Finance is simple and transparent to organise. The key steps to follow are: