Green Asset Finance
Discounted asset finance for electric vehicles and energy-efficient equipment to support sustainability.
What is green asset finance?
Green asset finance is a type of asset finance that allows you to buy equipment and vehicles to help you achieve your sustainability goals. It allows you to spread the cost over time so you don’t pay the full amount upfront.
As it’s part of our Clean Growth Financing Initiative (CGFI), you’ll pay a lower interest rate as long as the asset is used to reduce the environmental impact of your business.
What can you use green asset finance for?
From mopeds and cars to coaches and HGVs using electric, hydrogen, hybrid or biofuels.
Biomass boilers, ground source heat pumps, water or air source heating and solar water heating.
Machinery that improves efficiency, reduces environmental impact or supports the production of sustainable products.
How green asset finance can help your business
Does your business qualify for green asset finance?
- Available to new and existing Lloyds Bank customers.
- The asset must be for use in your business and linked to a qualifying green purpose
- Minimum funding amount is £25,001.
- Your turnover must be more than £3 million per annum.
- You must have been trading for a minimum of 24 months and be UK-based.
Qualifying green purposes
Finance is available for assets that support:
- Reduction in carbon and greenhouse gas emissions for core business processes, properties and infrastructure.
- Energy efficiency, renewables, environmental sustainability improvements or production of related products.
- Investment in low carbon vehicles and transport.
- Investment to improve water efficiency.
- Investment to reduce waste or improve recycling rate.
Expand your business with green asset finance
Find out how Teemill are expanding their sustainable textile business through purchasing new equipment and developing their solar farm with our Clean Growth Finance Initiative.
Reduce tax with green asset finance
Super-Deduction is a capital allowance which applies to qualifying plant and machinery investments. Companies can claim 130% tax relief and qualify for 50% First Year Allowance (FYA) on special rate long-life assets until 31 March 2023.
The Annual Investment Allowance (AIA) is a regular capital allowance which applies to purchased assets that are used and kept within a business. The AIA limit is set at £1,000,000 until 31 March 2023.
Other borrowing options to support sustainability
From investing in clean growth to improving the energy efficiency of buildings and vehicles, we offer a range of tools, products and services to help your business achieve its green and Net Zero ambitions.
Important Legal Information
Lloyds Bank plc, Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England & Wales no. 2065. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 119278.
Lloyds UDT Leasing Limited, Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England & Wales no. 665240.
Lloyds Bank Asset Finance, part of Lloyds Banking Group, is a member of the Finance & Leasing Association (FLA) and complies with the FLA Business Code of Practice. Lloyds Banking Group is a member of the Lending Standards Board (LSB) and complies with the LSB Standards of Lending Practice for Business Customers (Asset Finance). Further information is available from the FLA at www.fla.org.uk and from the LSB at www.lendingstandardsboard.org.uk.
We are covered by the Financial Ombudsman Service (FOS). Please note that due to FOS eligibility criteria not all business customers will be covered.
The provision of our credit or leasing services by us is subject to you meeting our credit approval. Please ensure that you only apply for credit or leasing services that you can comfortably afford.