Wrap fund backs money to waste initiative
By Anthony Clark
Posted 12 June 2012
Wrap has launched a further financial package to help increase business resource efficiency in England. The fund aims to increase waste prevention and boost re-use.
Holbeach: “We make the most of everything we use.”
Businesses developing “new opportunities that prevent waste or use less product to deliver a service” can apply to the Waste Prevention Loan Fund, which offers loans of between £100,000 and £1m.
The aim of this fund is to offer finance to companies who cannot raise ‘green’ investment cash from more traditional sources. Examples include incentivising customers to return products for re-manufacture, re-use or recycling. In addition to the loan fund, Wrap can help firms identify alternative finance partners who are better placed to understand new business opportunities.
Waste minister Lord Taylor of Holbeach said: “The natural materials which our businesses rely on will become scarcer, so we need to develop new ways of designing, manufacturing and consuming goods so that we make the most of everything we use, rather than throwing it away at the end.
“The £1.5m Waste Prevention Loan Fund will mean we can aid more businesses to plot the course to a more resource efficient future, inspiring businesses to make more efficient use of resources, which is not only good for the environment but also makes good business sense.”
For more information, eligibility and application forms, visit: www.wrap.org.uk/content/wplf
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