31 Aug, 2017
Offering interest-free finance on energy-efficient purchases between $10,001 and $40,000, TEELS for Small Business is now available.
TEELS for Small Business is a joint initiative of the Tasmanian Government, Aurora Energy, and Westpac.
$20 Million have been allocated to provide the opportunity to apply for an interest-free business loan specifically for the purchase of energy efficient products, including:
- Solar Panels
- Solar-powered Battery Storage
- Gas/Air-source Heat Pump and Solar Hot Water Heating Systems (e.g. Sanden Eco)
- Non-ducted Reverse Cycle Air Conditioners (min. 2.5 star energy efficiency rating)
- Fridges, Freezers, and Washing Machines (rated above 3-star energy efficiency rating)
- Industrial Refrigeration
- Double Glazing
- Ceiling and Floor Insulation
- Condensation Control Systems
- Efficient Wood Heaters
- Block-out Curtains, Blinds, and Pelmets
- Irrigation Pumps
- Building Upgrades to reduce energy usage
The repayment period for small business is up to 5 years.
It is recommended that independent financial advice is sought prior to application to ensure TEELS is appropriate for your circumstances.
How it works:
- Review TEELS information, Terms & Conditions and FAQs available on Aurora’s Website
- Source a quote for your desired product/s
- Submit your TEELS application request (you may begin the process for this loan application here)
- When you submit your TEELS request, Aurora will provide your dteails to Capital Finance Australia Limited (subsidiary of Westpac Banking Corporation)
- Within 7 days of receipt of your application, you will be contacted by telephone by a representative of Capital Finance to discuss your application.
- Capital Finance will request information required to omplete your application, including the product quote/s you have sourced
- If your loan application is approved, you will be notified in writing
- You will need to sign Capital Finance Australia Limited’s lending Terms & Conditions
- Arrange installation with your chosen installer. You will need to provide a copy of your written finance approval to your chosen installer.
- Your installer will provide a tax invoice to you and to Capital Finance. You need to retain this original Invoice for warranty purposes, and to send a copy of the Invoice to Capital Finance.
- Your products can be installed. Once installed, you confirm that installation has been completed by signing a delivery/installation receipt
- Capital Finance will then make payment directly to your chosen installer