MONETA Money Bank in the Czech Republic offers agricultural entrepreneurs a loan that can be used to finance renewable energy projects. It is mainly focused on photovoltaic power plants, which will help businesses significantly reduce energy costs and at the same time contribute to environmental protection. The loan will cover up to 100% of the costs associated with the project and its repayment period is up to 10 years.
“Within small and medium-sized enterprises, we primarily focus on financing eco-energy projects for farmers, both on energy production projects for own consumption leading to energy self-sufficiency, and projects with sales to the distribution network. We are currently negotiating deals with customers in the order of CZK 10 million. The vast majority of these are projects with investment subsidies from the National Recovery Plan and the Modernization Fund, from which the customers applied in 2021 and received a subsidy decision this year. Another subsidy call from the Modernization Fund was opened in the middle of this year,” – says Barbora Kobiánová, Sector Manager for Agriculture at MONETA Money Bank.
The applicant for the loan must be an existing company or a purpose-built company with a co-borrower with at least two closed accounting periods. Each loan application is assessed individually and the assessment is mainly based on the creditworthiness of the applicant. The loan is also fully compatible with all available subsidy programs.
MONETA Money Bank supports domestic farmers in the long term. For example, it is the general partner of the “Farmer of the Year” competition and, in cooperation with the Czech University of Life Sciences, financially supports the unique “Smart Landscape” project focusing on landscape adaptation to climate change. The bank also supports several programs related to environmental protection. Thanks to this, it has a positive effect on increasing awareness of the urgency of climate change and on the emphasis on reducing the carbon footprint.
MONETA is also the largest provider of loans for the purchase of land in the Czech Republic, with more than a third part of the financing of farmers who, thanks to the extended loan maturity of up to 30 years, are not so burdened by higher repayments in their business.
“Our ideal customer has a relationship with the land and whose approach is not only about extraction but also about cultivation and sustainability. This is essential for the landscape in times of impending climate change,” – adds Barbora Kobiánová.
Source: the Bank`s press release dated July 20, 2022
