Kiwibank cuts rates for green improvements
It say the rate will vary as is usual for commercial customers, but on average will be 50 to 100 basis points lower than what would otherwise have been charged.
The money will be available for small operators, SMEs and corporations from September 26 onwards. It will be payable to fund 13 classes of project, such as switching to electric vehicles, or using sustainable packaging or green buildings.
Kiwibank head of sustainable finance Tom Williams, said the scheme would work under the same terms and conditions as other business loans and would not lock in customers to the bank.
He said firms had indicated they wanted access to this type of loan.
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