Solar Power: Finance
The question
To ask the Secretary of State for Business and Trade, what assessment his Department has made of the adequacy of access to finance for solar startups.
Answered by Blair McDougall
The Government recognises that access to finance is vital for all UK start-ups, including those in the solar energy sector. Our Small Business Plan sets out measures to improve the finance landscape for SMEs, including a £4 billion finance boost to increase access to finance for entrepreneurs.
For example, the Start Up Loans programme, delivered by the British Business Bank, offers loans between £500 and £25,000 for businesses that have been trading for up to 60 months. The Growth Guarantee Scheme helps smaller businesses access finance of up to £2 million per business group for growth, investment and working capital.
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