{"id":22913,"date":"2023-10-25T04:00:00","date_gmt":"2023-10-25T04:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4248070_AE48070_0"},"modified":"2023-10-25T04:00:00","modified_gmt":"2023-10-25T04:00:00","slug":"dbs-launches-innovative-financing-solution-for-smes-to-advance-sustainability-agendas","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=22913","title":{"rendered":"DBS LAUNCHES INNOVATIVE FINANCING SOLUTION FOR SMEs TO ADVANCE SUSTAINABILITY AGENDAS"},"content":{"rendered":"
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– Hybrid solution to incentivise more sustainable renovations amongst SMEs <\/i><\/p>\n

SINGAPORE<\/span><\/span>, Oct. 25, 2023<\/span><\/span> \/PRNewswire\/ — DBS today announced a first-of-its-kind hybrid financing solution to help small and medium enterprises (SMEs) access a wider pool of capital to finance their sustainability journeys. The DBS Eco Renovate Loan enables SMEs to borrow up to 100% of the cost of using resource efficient or energy optimisation solutions for a green renovation project, at preferential rates. Companies can also choose to bundle the loan with a traditional commercial loan[1]<\/sup> to finance their total renovation needs.<\/p>\n

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Koh Kar Siong<\/span>, Group Head of Corporate and SME Banking, DBS, said: "SMEs are increasingly aware of the need to embed sustainable practices into their businesses, to better compete in a green economy. 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."<\/p>\n

The Eco Renovate Loan is structured in line with internationally recognised Green Loan Principles[2]<\/sup>, and is the latest in a suite of financing solutions, including electric vehicle financing, sustainable trade financing and renewable energy financing, by DBS to help accelerate the adoption of sustainability solutions by SMEs.<\/p>\n

Companies and contractors use a simplified checklist to identify, track, and implement sustainability-related initiatives in their renovation project. Companies must submit a pre-renovation checklist with supporting documents such as quotations, as well as invoices as proof of work done after the project is complete.<\/p>\n

Financing is just one area in which DBS is partnering SMEs to help them compete and grow in the green economy. DBS recently announced a new two-year collaboration with SkillsFuture SG to offer sustainability skills training. Companies can also participate in a progressive four-stage programme under the bank’s ‘ESG-ready’ initiative, where they can learn to develop a sustainability strategy; and implement their action plan with the necessary tools and solutions. Companies can then validate their ESG performance through independent third-party assurance and reporting. <\/p>\n

For more information, visit: https:\/\/www.dbs.com.sg\/sme\/finance-better\/eco-renovate-loan<\/span><\/a> <\/span><\/p>\n

[1] Up to 80% of renovation costs, at prevailing commercial rates
[2] https:\/\/www.lsta.org\/content\/green-loan-principles\/<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"

– Hybrid solution to incentivise more sustainable renovations amongst SMEs SINGAPORE, Oct. 25, 2023 \/PRNewswire\/ — DBS today announced a first-of-its-kind hybrid financing solution to help small and medium enterprises (SMEs) access a wider pool of capital to finance their sustainability journeys. The DBS Eco Renovate Loan enables SMEs to borrow up to 100% of […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-22913","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"\nDBS LAUNCHES INNOVATIVE FINANCING SOLUTION FOR SMEs TO ADVANCE SUSTAINABILITY AGENDAS - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=22913\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DBS LAUNCHES INNOVATIVE FINANCING SOLUTION FOR SMEs TO ADVANCE SUSTAINABILITY AGENDAS - My Blog\" \/>\n<meta property=\"og:description\" content=\"– Hybrid solution to incentivise more sustainable renovations amongst SMEs SINGAPORE, Oct. 25, 2023 \/PRNewswire\/ — DBS today announced a first-of-its-kind hybrid financing solution to help small and medium enterprises (SMEs) access a wider pool of capital to finance their sustainability journeys. 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