Homeowners and private sector landlords in the North East are benefitting from Regional Growth Fund (RGF) investment to improve the energy efficiency of their homes and properties
Five Lamps, a member of the Community Development Finance Institution (CFDA) has provided a £30,000 RGF loan to Green Deal Products to increase their capacity to deliver a Green Deal service across the North East.
Founded in July 2011, Green Deal Products will deliver the Government’s Green Deal across the North East. Under the Green Deal, energy bill payers will be able to get energy efficiency improvements to their homes without having to front up the cash.
Tim Cantle-Jones, Green Deal Products Managing Director said
“We are delighted to have received the loan from Five Lamps which we will use specifically to set up a Green Deal Assessment service through which we would hope to employ up to 10 people over the next 2 years”
The first two Green Deal Assessors, Nick Mallon and Steve Howlett, qualified in September 2013. They will work with homeowners to undertake an Energy Performance Certificate (EPC) Home Assessment where they will collect basic consumer information and develop and construct a Green Deal Plan which will include a list of
Green Deal measures for the property. Once the plan has been checked and signed off by the consumer, the Assessors will work with the registered Green Deal Installers to begin the schedule of work on the property. After the work has been completed a new EPC will be granted to account for the new energy efficient measures installed.
Bill Erskine, Director of Finance & Economic Development at Five Lamps said,
“Five Lamps has created a range of access to finance products which benefit a broad range of entrepreneurs. It is still difficult for new and early-life businesses to access finance when they need it and we are able to provide loan finance from £1,000 to £50,000. We are thrilled to be able to support the vision and ambition of the team at Green Deal Products, with the first of our RGF loans”.
This Regional Growth Fund programme is provided through the Community Development Finance Association. It provides loans to small, micro and social enterprises through the community finance sector. £30million of funding is provided by the Government’s Regional Growth Fund, matched with a further £30 million by the Co-operative Bank and Unity Trust Bank.