Purpose/Use of Funds:
• Funds can be used for any project that is energy efficient or uses renewable energy.
• Every one project can receive a maximum of $270,000 XCD for a maximum of 8 years at an interest rate of 6%.
• Small and medium-sized (no more than 200 employees) business owners interested in undertaking a renewable energy or energy efficiency project.
• A grace period of no more than 8 months will be given during the implementation phase.
Similarly to all other loans provided by the Bank, this loan must be secured using any or a combination of the following:
• Cash deposit
• Assignment of shares from a reputable business institution
• Mortgage on property
• Any other collateral that may be deemed acceptable.