SALIX Funding

Salix finance offer two types of funding model. Both schemes are designed to help English public sector bodies cut their carbon footprint. Firstly a matched funding scheme is offered; it works by placing both monies, yours and the Salix contribution into a ring-fenced sustainable fund.  This fund is used to pay for individual energy saving projects. The savings made by your project are then re-invested into the fund until the project loan is paid off, after which you are free to keep all the savings.  The second offering is a loan scheme with 100 % funding made available interest free to be given out on a first come first served basis. Salix Finance will provide £51.5 million in interest free loans to help public sector organisations take advantage of energy efficiency technology.

Financing is available on the following conditions:

• Applications are accepted from now until the end of December 2009 or until all the available monies have been allocated
• Loans will be allocated on a first come first served basis
• The minimum amount available is £5,000 per application with no upper limit, providing all projects can be completed within 9 months of agreed application
• The loan should cover the total cost of the project and no match funding is required
• Loans will be repayable from the beginning of March 2011 over 4 years in 8 equal installments
• The repayments should be covered from the energy savings achieved by the projects and organisations can keep all the savings generated once the loan is repaid

The projects themselves need to meet the criteria of:

• A maximum 5 year payback period
• £100/tCO2 lifetime basis
• Payback of projects implemented must be shorter than the expected life of the building or the technology must be transferable
• If the expected lifetime of the building is shorter than the expected lifetime of the technology, then the compliancy calculation will be based on the shorter of the two
• Projects must be seen as being additional and not mandatory

For a more detailed and thorough description, along with the application proceedure, please visit:

http://www.salixfinance.co.uk/loans.html