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BOV Business Energy Loan
BOV Business Energy Loan
BOV Business Energy Loan

The BOV Business Energy Loan is an affordable, customised, bank finance solution aimed at assisting businesses who seek to improve the energy efficiency of their operations.

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The BOV Business Energy Loan is being made available to SMEs and Mid-Caps (organisations employing up to 3,000 employees) to cover the costs of energy efficient investments. The loan will cover costs such as the cost of materials, the cost of technical planning of installations, as well as the cost of installation and/or maintenance. The costs of energy efficient investments typically include:

  • Investments related to the building envelope (insulation, windows and doors, other building envelope related measures with impact on thermal performance, etc.);
  • Investments related to the building system (space heating, investments related to hot water generation, ventilation systems, cooling, lighting, building and Energy Management Systems, connection to energy supplies, charging stations for electric vehicles, etc.);
  • Investments related to renewable energies not connected to the buildings (photovoltaic systems etc.) for own consumption of the final recipient;
  • Non-Standardised Costs (investments undertaken following an energy performance audit and could include operational upgrades, investment in an electric / hybrid fleet, water efficiency measures, etc.).

 

 

 

The BOV Business Energy Loan includes a series of features that will be of great assistance to applicants. A highlight of these features are listed below. Contact us for a full list of features, benefits and terms and conditions.

  • A fixed interest rate of 2.1% for the first three years followed by a 3% variable rate thereafter (for reference purposes 3% variable rate is 0.85% margin plus BLBBR, which is presently 2.15% per annum;
  • An interest rate subsidy of 2% p.a. for first three years of borrowing;
  • A maximum loan term of up to 15 (fifteen) years;
  • Maximum loan amount of EUR 750,000;
  • A minimum contribution of 20%;
  • A lower amount of extendible security in line with similar risk sharing instruments;
  • No processing and renewal fees.  

 

 

 

A highlight of terms and conditions is listed below. For a full list of features, benefits and terms and conditions, please contact your nearest branch or call the Customer Service Centre on 2131 2020.

  • Facilities can only be in the form of Loans (overdrafts are excluded from the scheme);
  • The maximum loan amount is of EUR 750,000;
  • The minimum contribution is of 20%;
  • Interest rate of 3.5%  (1.35% margin plus BLBBR, which is presently 2.15% per annum);
  • An interest rate subsidy of 2.0% on eligible interest on the interest paid will be refunded to borrower for the first three years from drawdown;
  • No processing or early repayment fees;
  • A commitment fee of 0.5% p.a. will apply on undrawn amounts after six months from sanction letter / agreement date;
  • The maximum loan term is of 15 (fifteen) years (inclusive of moratorium);
  • A moratorium on capital of up to a maximum period of 6 (six) months may be considered.

Certain sectors may not be eligible for this scheme. All loans are subject to normal bank lending criteria and final approval by the Bank. Other terms and conditions apply.

 

 

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To assist businesses get a better understanding of potential savings in energy costs and carbon dioxide reductions achieved through costs financed through the BOV Business Energy Loan, the European Investment Bank has developed a web-based tool called ‘CliMalta’ which can be accessed via https://climalta.eu/

If you would like to apply for the BOV Business Energy Loan simply set an appointment today. We will help you find the right solution for your particular needs and also guide you on the required documentation. You may also wish to send an email to [email protected], speak to the relationship officer at your Branch or Business Centre, or call our Customer Service Centre on 2131 2020.

All loans are subject to normal bank lending criteria, credit approval by the Bank and a credit agreement. Further terms and conditions are available from www.bov.com

EERE Malta is co-financed by the Republic of Malta, the European Union under the European Regional Development Fund.

 

The financial support and benefits are derived from the establishment of a Fund of Funds – “EERE Malta” which is co-financed by Malta and the European Union under the European Regional Development Fund (ERDF). The objective of this fund of funds and its first loss guarantee combined with an interest rate subsidy scheme is to support the access of the final recipients for their investments in energy efficiency and renewable energy measures.

 

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Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking and investment services in terms of the Banking Act (Cap. 371 of the Laws of Malta) and the Investment Services Act (Cap.370. of the Laws of Malta).