More funding pledged for sustainable SMEs by DBS

sustainable SME DBS

DBS Singapore has committed to a new hybrid financing solution for small to medium enterprises (SMEs) to access more capital, in an effort to encourage and introduce more sustainable agendas.

The DBS Eco Renovate Loan allows SMEs to borrow up to 100 per cent of the cost of “using resource efficient or energy optimisation solutions for a green renovation”. They will also have the opportunity to combine the loan with a traditional commercial loan to finance all of their business needs.

The loan was created according to internationally recognised Green Loan Principles, allowing SMEs to use a checklist to identify, track and implement sustainability-related initiatives as part of their remit.

“SMEs are increasingly aware of the need to embed sustainable practices into their businesses, to better compete in a green economy,” Koh Kar Siong, Group Head of Corporate and SME Banking at DBS, said.

“Yet, most sustainable financing initiatives are geared towards larger corporates as these companies have access to the data, resources and know-how to track and measure their progress.

“The Eco Renovate Loan aims to bridge this financing gap by offering SMEs a simple, effective solution to kickstart their sustainability journeys.”