MONETA Money Bank in the Czech Republic is launching green loans for small businesses and self-employed people to finance energy-saving projects and sustainable measures. The Bank will provide them with loans of up to CZK 2.5 million (approx. EUR 107,000).
It`s about photovoltaic systems, heat pumps, hydroelectric plants, building insulation, heating systems, electric cars and plug-in hybrids including charging stations, installation of energy-saving lighting, and other similar projects related to business activity. All this can be financed by small businesses and self-employed people through the new Green Express Business loan. Thanks to it, it will be possible to obtain up to CZK 2.5 million (approx. EUR 107,000) for the construction or purchase of eco-energy projects with a repayment tenor of 15 years. It can be expected that part of the projects will be supported by subsidy titles.
“MONETA has long been profiled as a Bank supporting entrepreneurs and small businesses, which are the backbone of the Czech economy, as well as a Bank with a positive attitude towards the environment and a developed sustainable policy. These two tendencies are also reflected in our product portfolio, another part of which is a new green loan designed for small business customers. Its repayment tenor is set for up to 15 years, which allows the customer to get a low monthly payment, which does not burden his cash flow so much. Another significant benefit of the loan is that we finance up to 100% of the price without real estate or other purchased assets,” – said Lukáš Krejza, Senior Product Development Manager at MONETA Money Bank.
Using this loan, it is possible to draw an amount from CZK 40,000 (approx. EUR 1700) up to CZK 2.5 million (approx. EUR 107,000) with a repayment tenor of 2 to 15 years. In the case of extraordinary loan repayment in the amount of the subsidy, the Bank does not charge any fees, as well as in a situation where the customer repays the loan early during the end of the interest rate fixation period. This can be set in the range of 3 to 10 years. It is also possible to postpone the first loan principal payment for up to 6 months.
To obtain a loan, the customer should visit one of the MONETA Money Bank branches and present two identity documents. The Bank may also require to submit tax returns for the last two accounting periods and a document proving the purpose of the financing, for example, an offer to carry out work, a valid work agreement, or another document proving the implementation of the project.
Source: the Bank`s press release dated April 03, 2023