Applications now open for interest-free loans under Eastern Caribbean Green Entrepreneurship Initiative

The Eastern Caribbean Green Entrepreneurship Initiative (EC Greenpreneurs) is making the second call for applications for its Accelerator Interest-Free Loans, which offer up to US $50,000 to catalyse innovative green businesses that showcase Caribbean solutions to Caribbean problems on a national, regional and global scale.

The Centre for Enterprise Development (CED) states in a release that the deadline for applications is Thursday, June 8, 2023 at 11:59 p.m.

The Eastern Caribbean Greenpreneurs Accelerator Interest-Free Loan is designed to support green entrepreneurs by offering US$10,000 to US$50,000 in interest free loans and investor matching support. Under this programme, businesses only repay the original amount borrowed and are not required to provide collateral to qualify.

A green business is considered to be any business that is supporting the achievement of environmental/social goals in the country through the services and products they offer, while generating wealth. These include: selling products that offset or reduce imports; selling sustainable/renewable energy or energy efficiency products, services, or equipment; farms or food production businesses that use organic or regenerative agriculture techniques; businesses that reduce energy use or use renewable energy, reduce water use, reduce waste (such as recycling businesses or those that source re-used or local materials), or protect or conserve natural landscapes, address social issues (support vulnerable populations like youth, women, persons with disabilities, reduce inequality/poverty etc.), or increase resilience to climate change (storm-resistant buildings and infrastructure, increased ability recover from storms/flooding, etc).

The interest-free loan may be used to cover the operation and/or capital expenses of your high-growth green business, the CED release adds. The disbursed funds may also serve as junior to other investments/loans thus acting as a first-loss buffer to leverage additional investments from private sector investors, development finance institutions and domestic financial institutions.

Interested green entrepreneurs should visit the website caribbeangreenpreneurs.com for more information and to apply.