DBS launches financing solution for SMEs to promote sustainability
The DBS Eco Renovate Loan, a hybrid financial tool, allows SMEs to access more capital for green renovations, covering up to 100% of costs for resource-efficient or energy-saving solutions at competitive rates.
DBS introduces the DBS Eco Renovate Loan, an innovative financing solution tailored for small and medium enterprises (SMEs) to support their sustainability initiatives. The Eco Renovate Loan covers up to 100% of costs for green renovations with resource-efficient or energy-saving solutions at competitive rates, and it can be combined with traditional commercial loans.
Koh Kar Siong, Group Head of Corporate and SME Banking at DBS, highlights its significance, stating, "The Eco Renovate Loan bridges the financial gap, providing SMEs with an efficient solution to begin their sustainability journey."
This loan adheres to globally recognized Green Loan Principles and complements DBS's suite of financing solutions supporting SMEs in adopting sustainability practices, including electric vehicle financing, sustainable trade financing, and renewable energy financing.
The process for companies and contractors using the Eco Renovate Loan is straightforward. A simplified checklist identifies and monitors sustainability-related measures in their renovation projects. Companies must submit a pre-renovation checklist with supporting documents to verify the work upon project completion.
DBS also collaborates with SkillsFuture SG to provide sustainability skills training and offers a four-stage program under the 'ESG-ready' initiative, guiding companies in developing sustainability strategies and validating ESG performance.
DBS supports SMEs in their sustainability efforts with the DBS Eco Renovate Loan and other green financing solutions, helping them embark on a sustainable journey towards a greener and more competitive future.
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