Zero Interest Finance for Small Business

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
  • Lighting
  • 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

 Websites that may be helpful include:

Tasmanain Government Tips for Businesses
Australian Government YourHome Energy Overview
Aurora Energy Saving Hints & Tips
Product Energy Rating