We all have a responsibility to contribute to the green shift. In 2021, more than 400 Norwegian companies and research institutes applied for funding for their green projects through the Green Platform competition, an initiative that is a collaboration between The Research Council of Norway, Innovation Norway, Siva, and Enova. Innovation Norway has previously reported that almost half of the supported projects in 2020 went to projects with a defined positive environmental impact.
For us at Qred, it is important to create more sustainable and environmentally friendly solutions, which is why we have launched the Green Loans initiative. We would like to help your company make good choices for the environment.
There are many advantages to taking a Green Loan, but first and foremost, it contributes to the green transition in Norway and helps towards achieving the UN Sustainable Development Goals.
In addition, investing green is brand-building and attractive to customers and employees.
Another advantage is that you get better terms than with a regular business loan.
At Qred, we offer Green Loans so businesses can make environmentally friendly investments.
The focus of Green Loans is to empower businesses to create better solutions that are good for the environment and the climate.
With the rising energy prices, sustainable initiatives become even more relevant. By thinking of sustainability in terms of a self-sufficient energy source, companies become less vulnerable to external factors. NRK reports that in 2022, the amount of energy coming from fossil fuels in Norway doubled. Bloomberg also writes that in 2022, investment in low-carbon technologies appears to be the same amount of capital as investment in fossil fuel.
Green Loan is a new product from Qred.
In order for Qred to be able to offer a Green loan, the company must be able to demonstrate specific measures toward a greener investment. It can e.g. be an invoice for the payment of an electric car, an offer for solar cells, or an order confirmation.
The loan that Qred offers must comply with the already existing processes, where we e.g. looks at the company's turnover and assesses whether the company is able to repay the loan.
We help Norwegian businesses with financing every single day. This creates space for business owners to focus on what they do best - running a business. And now we want to give you even better conditions when you invest green.
It can be difficult for small and medium-sized enterprises to get support from banks to get started. At Qred, we want to change this!
Examples of what you can use a green loan for:
- Environmentally friendly transport (electric car or freight transport)
- Renewable energy (solar, wind and hydro)
- Energy efficiency (energy storage and district heating)
- Less pollution (water purification and waste management)
At Qred, we always offer an individual assessment of each individual company when we receive a loan application. In that process, we ask for documentation of the company's turnover as well as the owner's personal annual statement. For our green loan, we will also ask for documentation that specifies what the green investment or acquisition entails. After this, we make an assessment and possibly get back to you with an offer for a loan where we reduce the monthly price. Discounts and lower prices are offered on the basis of the individual credit assessment.
With a Green Loan, you can still repay the loan ahead of time, without any additional costs. The loan is also paid out as quickly as a regular loan with Qred, that is, on the same day that the loan is approved. And there are no hidden fees either.
We reserve the right to follow up on the investment, so that we can follow up on how our green loans contribute to driving the green transition in Norway.