Salix Energy Efficiency Loan Scheme (SEELS) now open for colleges

23rd January 2012

£20 million of interest free loans available for energy efficiency projects across the public sector covering schools, hospitals, local authorities, further and higher education organisations.

The Scheme allows public sector bodies to apply for an interest free loan to finance up to 100% of the costs of energy saving projects.

The application process will be in two stages:

• The application, project assessment and commitment to fund from Salix.
• The completion of the project with set up of the loan and payment of the money (unless Salix agree to fund on an interim payment basis).

The funding can be applied for in this current financial year only, ending on 31 March 2012. Projects then have to be completed by end of December 2012.

Once a project is accepted for funding by Salix, the applicant has up to 9 months to complete the works from the date of a commitment letter from Salix agreeing to finance the projects applied for in the application form. Application notes and details of the scheme can be found by following the link under information for clients.

Applications will be processed on a first come first served basis until all funds are allocated so the sooner an application is made then there is a greater chance of obtaining the required funding.

Important information:

• On completion of projects the completion certificate below must be completed and signed and sent to Salix at: SEELS4, Salix Finance, 25 Southampton Buildings, London, WC2A 1AL.

• Salix will then issue a loan agreement and direct debit mandate for the authorised officer to sign and return to Salix at: SEELS4, Salix Finance, 25 Southampton Buildings, London, WC2A 1AL.

• On receipt of completed documentation the loan funding will be paid by BACS.

• If you have requested interim/stage payments and this has been authorised then an interim payment certificate must be completed and returned to Salix in line with the agreed procedure.

• If you have made changes to a project already agreed then you will need to resubmit a compliance tool.

• Loan repayments will commence from the start of March 2013 continuing over 4 years by 8 equal instalments with the final payment September 2016.

For more information click here.