WeGreen Loans offer financing between $5,000 and $150,000 for eco-friendly business initiatives—such as solar panels, electric vehicles, energy-efficient equipment, renovations using green business standards—and businesses that adopt environmentally friendly practices.
Purpose & Criteria
- WeMB’s WeGreen Loan Program is supported by the RBC
- Businesses that are 51% or more owned by self-identifying women+ (cis, trans, 2S, and gender diverse) may be eligible for a WeGreen loan up to $150,000
- The loan funds maybe used to purchase environmentally friendly assets and/or for businesses that use and adopt environmentally friendly practices. The business can be a startup, expansion, or purchase of an existing business
Loan Terms & Conditions
- Maximum loan term is 5 years
- A 1% discount will be provided, so the startup rate is prime + 2% and expansion rate is prime + 1%
- Reduced or interest-only payments for the first 3 months and/or seasonal loan payments will be provided if required
- No loan application fees
- If the loan is approved, a 1% Loan Administration Fee (plus GST) is charged based on the approved amount. The maximum fee will be $1,500 plus GST
- Loan payments are due on the 15th of each month
- There are no penalties to repay the loan early or make extra loan payments