Support for Businesses, Organizations & Climate Change Initiatives
Our members want to support you!
Do you need a loan to expand your current project or business or start a new one?
Are you a homeowner or individual working on a project that helps address climate change and adapt to its effects?
Approved applicants receive business development guidance, financing and ongoing support.
Interest charged, repayment schedules and amortization periods vary from case to case.
Climate Action Loans
We offer Climate Action Loans to homeowners and individuals for equipment that helps address climate change and adapt to its effects. Currently we are offering loans up to $5,000 from 3.5% interest for the following:
- Water storage tanks to store water in winter for use in the summer drought season. Loan amount is 50 cents per gallon of storage, up to $5,000.
- Air source heat pumps to save energy and lower heating costs. Loan amount is for half the cost of the equipment, excluding installation and taxes, up to $5,000.
- Solar PV systems to reduce electricity bills and generate local renewable energy. Loan amount is for half the cost of the equipment, excluding installation and taxes, up to $5,000.
- Home EV charging stations to switch from fossil fuel vehicles to climate-friendly electric vehicles. Loan amount is for half the total installation cost, excluding taxes, up to $2,000. These loans are made possible by the loan pool established with TSSEC by the Salt Spring EV Owners Group.
- E-bikes and other equipment. Let us know what you need.
Loans will be issued to qualified applicants on a first-come basis until funds run out.
Installation of heat pumps, solar PV, and EV charging stations require permits and the services of an electrician or certified installer.
The CRD has regulations regarding the installation of water storage tanks and some water storage systems require a building permit.
The Nanaimo Regional District has a good manual on water collection and storage: