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Green Loans
Funding for your sustainability ambitions
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What are Green Loans?
A Green Loan from Ulster Bank aims to help eligible UK businesses finance business assets to support their sustainability ambitions, such as solar panels, electric vehicles, or heat pumps on commercial buildings, that fall within the eligible list, which has been developed by the bank and is subject to review and change on an ongoing basis.
Support for a range of sustainability ambitions for clean buildings and energy, clean transport and agriculture, subject to approval
No arrangement fees for eligible UK businesses, conditions apply and subject to approval
A range of borrowing options from £25,001, with fixed and variable interest rate loans available
Green Loans with no arrangement fee (Ulster Bank Green Loans) are open to applications from UK businesses with an annual turnover of less than £25m (other than for UK Real Estate Finance businesses for whom alternative criteria may apply) who are seeking to take out a loan to acquire assets that fall within the eligible list developed by the bank and subject to review and change on an ongoing basis (the Eligible List).
The Eligible List is informed by Ulster Bank’s Climate and Sustainable Funding and Financing Inclusion Criteria (the CSFF Criteria). However, categorisation of the loan as an Ulster Bank Green Loan does not imply and should not be taken to mean that the loan and/or its terms and conditions align with any “green” or similar taxonomy, standards, guidance or principles in the UK or elsewhere including, but not limited to, the LMA Green Loan Principles.
Security may be required. Fees (other than arrangement fees) may apply. Over 18s only. Subject to status, eligibility and approval. Business use only. Any property or asset used as security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it. Failure to comply with the terms of the loan agreement could lead to an event of default under the loan and (depending on their terms) may also impact other facilities of the borrower. Terms apply.
Eligible lending purposes
The new proposition with no arrangement fees will be open to applications from eligible UK businesses who want to acquire assets that fall within the eligible list developed by the bank and subject to review and change on an ongoing basis, relating to:
Clean buildings: retrofits for buildings and low carbon heating measures
Clean energy: renewable energy generation and energy storage systems
Clean transport: electric vehicles
Agriculture: renewable technology, crops, livestock, forest restoration and conservation, marine and low emission management
Green Loans in detail
Borrow from £25,001 up to £10m on a fixed interest rate or no upper limit on a variable rate, subject to approval
Loan interest rates are linked to the Ulster Bank base rate
No arrangement fees, conditions apply
Repayment terms from 3 months up to 25 years
No early repayment charges, conditions apply
Capital Repayment Holiday available, subject to approval. Conditions apply and you must keep paying the interest during the repayment holiday
Changes in the Ulster Bank base rate may require a review of your regular instalment amounts
Variable interest rate borrowers: Changes in the Ulster Bank base rate will affect the amount you need to pay to fully repay your loan. If you repay your loan from an account with Ulster Bank or via Direct Debit, we will automatically adjust your repayments to reflect changes in the Ulster Bank base rate going forward (or, wherever possible, let you know if we are not able to do so for whatever reason). If you repay your loan via standing order from an externally banked account, we will be in touch to let you know the next steps required to adjust your repayments accordingly.
How it works
* Green loans are subject to the terms of a loan agreement
Speak to our team
If you have a Relationship Manager speak to them to discuss your needs.
Customers with hearing and speech impairments can contact us using our Relay UK Service: 18001 0345 366 5592.
Lines are open 9.00am – 5.30pm Monday to Friday (except public holidays)
For more information visit the accessibility page.
Calls may be recorded for training and monitoring purposes. To see how much your call might cost, visit the call charge information page.
More about our Green Loans
Why is a bank getting involved with climate change?
We’re clear that climate change is one of the most important issues we face. We know we must act now to build a resilient economy for the future. As well as preparing ourselves and our customers for change, we’re looking at how we could help our customers to take advantage of the opportunities that transitioning to a low carbon future could offer.