Bank of Ireland trebles Green Business Loan limit to €1 million

  • Discounted loan limit increases from €300,000 to €1,000,000
  • Businesses can access loans by providing proof of sustainability improvements
  • Green Business Loan aligns with Bank of Ireland’s Sustainable Finance Framework

Bank of Ireland has trebled its Green Business Loan limit from €300,000 to €1 million, supporting businesses or farmers looking for discounted finance to reduce their costs and carbon footprint.

The Green Business Loan now offers:

  • Loan amounts from €1,000 to €1,000,000
  • Extended loan terms of up to 7 years
  • Discounted variable interest rates ranging between 4.41% to 6.21%

To qualify, businesses must provide evidence of sustainability improvements, such as:

  • Clean transportation
  • Installing LED lighting to replace fluorescent lights
  • Rainwater harvesting technologies
  • Renewable energy
  • Solar technology
  • Waste reduction measures

John Feeney, CEO, Corporate and Commercial, Bank of Ireland said: “We have trebled the limit on our Green Business Loans to €1 million, recognising that the path to sustainability can be complex for many businesses. Our goal is to make it easier and faster to access sustainable finance, with greater flexibility and choice. We are committed to helping businesses reduce their environmental impact while also lowering their operating costs.”

Eligibility criteria for a Green Business Loan now requires borrowers to provide proof of the sustainability improvements being conducted, with standard interest rates varying depending on the amount being borrowed. Loan amounts up to €500,000 can be applied for online, while amounts beyond that and up to €1m can be accessed via the Bank of Ireland branch network.

The introduction of Green Business Loans aligns with Bank of Ireland’s Sustainable Finance Framework and further complements its product suite in this area. Enviroflex sustainability-linked loans are now available to over 95% of Irish dairy farmers via 13 Co-op partnerships, with the Bank on track to deliver its end-2025 sustainability-related lending target of €15 billion earlier than anticipated.

With many SMEs unclear on how to implement sustainable growth plans, Bank of Ireland has also launched its Sustainable Business Coach online platform, a free digital tool designed to support SME business customers with sustainability planning and to identify their ESG priorities.

ENDS

Note to editors:

To find out more about the Bank of Ireland’s Green Business Loans, please visit our Green Business Loan page.

Standard Term Loan up to 7 years

  • For amounts up to €120,000 the discounted variable interest rate is 6.21%
  • For amounts from €120,000 to €500,000 the discounted variable interest rate is 4.76%
  • For amounts from €500,000 to €1,000,000 the discounted variable interest rate is 4.41%