Question 1

Who can apply for a Business Solar Loan?

Accepted Answer

New and existing Standard Bank clients 
Businesses which are: companies, close corporations, sole proprietorships, partnerships, incorporated  joint ventures  that are registered for VAT or with CIPC. *T&Cs apply
Businesses with a maximum turnover R300 million

Question 2

How much can I borrow with a Business Solar Loan?

Accepted Answer

These loans range from a minimum amount R10000 up to a maximum amount R10 million

*T&Cs apply

Question 3

What is the repayment term?

Accepted Answer

It's a flexible structure between 12 to 60 months. The terms and conditions of the Business Solar Loan will be tailored to your business needs and subject to the necessary credit and compliance checks.

Question 4

What can I finance with a Business Solar Loan?

Accepted Answer

Our Business Solar Loan offering is limited to the financing of green energy solutions such as:

Rooftop/ground mounted solar system which includes the installation of solar panels up to R10 million. You can use your Business Solar Loan to cover the costs of the system as well as installation fees, and/or 
Uninterrupted power supply systems and battery backup systems - including invertors and sundries - can be financed up to R30 000; this is a portion of the maximum loan amount.

Question 5

What are green energy solutions?

Accepted Answer

This is any energy system, machinery, plant, implement, utensil or article required to deliver, generate and store electricity generated from renewable resources but only in respect of rooftop/ground mounted solar solutions and resilience-targeted solutions, including uninterrupted power supply systems and battery back systems, including invertors and sundries (excluding generation capacity).

Question 6

Can my business apply for more than one Business Solar Loan under the Government Bounce- Back Energy Loan Scheme?

Accepted Answer

No, One Loan is permitted under this product.

Question 7

How long does the loan application process take?

Accepted Answer

The application process can take between 24 to 72 hours from receipt of the application and all supporting documentation.

Question 8

Is there a deposit required with this loan?

Accepted Answer

A 20% deposit is required for Business Solar Loans over R500 000 subject to credit assessment, the deposit is calculated on the approved loan amount.

*T&Cs apply

Question 9

How would the renewable energy tax incentives announced in the 2023 Budget affect a Business Solar Loan taken up under the Government Bounce- Back Energy loan Scheme?

Accepted Answer

Businesses that invest in eligible new and unused renewable energy generation assets may qualify for an upfront 125% deduction of the cost of these assets if certain requirements are met. The assets must be brought into use for the purpose of your business’ trade on/after 1 March 2023 and before 28 February 2025 (i.e. available for two years only).

You will still qualify for the tax incentive announced, even if you have a  Business Solar Loan under the Government Bounce- Back Energy Loan Scheme or any other loan funding to purchase your renewable energy generation assets.

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Frequently Asked Questions

Who can apply for a Business Solar Loan?

How much can I borrow with a Business Solar Loan?

What is the repayment term?

What can I finance with a Business Solar Loan?

What are green energy solutions?

Can my business apply for more than one Business Solar Loan under the Government Bounce- Back Energy Loan Scheme?

How long does the loan application process take?

Is there a deposit required with this loan?

How would the renewable energy tax incentives announced in the 2023 Budget affect a Business Solar Loan taken up under the Government Bounce- Back Energy loan Scheme?

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