Treasury launches solar loans for homes and small businesses

[Hanno Labuschagne]

Treasury launches solar loans for homes and small businesses

The National Treasury has launched the Energy Bounce Back Loan Guarantee Scheme (EBB) — an initiative aimed at alleviating the impact of continuing difficulties resulting from unreliable power supply for small businesses and households.

This follows President Cyril Ramaphosa’s commitment in his 2023 State of the Nation Address to adjust the bounce-back loan scheme (BBS) to enable small businesses to invest in solar equipment.

[SANews]

 

[Fuzzbox]

And the moneys gone.

 

[pinball wizard]

Wonder if I'm black enough to qualify.

 

[skusku]

So what's new/different in borrowing money for solar, didnt banks already do that?

 

[Petec]

Wonder if I'm black enough to qualify.

Show us some skin

 

[B-1]

If this is anything like the solar geysers by the time all the prices have been inflated by registered installers it will be cheaper to pay the interest on a personal loan.

 

[rvZA]

No, the government does not provide financing. You need to apply for a loan at a bank and the government only gives some guarantee.

Considering that almost three quarters, if not almost 90% by now, of credit active consumers are blacklisted, this whole thing means virtually nothing.

 

[pinball wizard]

Show us some skin

Waiting on my 23 and Me results.

 

[itareanlnotani]

If this is anything like the solar geysers by the time all the prices have been inflated by registered installers it will be cheaper to pay the interest on a personal loan.

I jumped at that one, and got a decent amount back. Was reasonable too.
Still have the geysers up on that house. Tenants were saying they love summer as bills drop quite a bit.


This on the other hand just seems like an expensive loan. Prime+6? Are they nuts!

 

[holler]

I jumped at that one, and got a decent amount back. Was reasonable too.
Still have the geysers up on that house. Tenants were saying they love summer as bills drop quite a bit.


This on the other hand just seems like an expensive loan. Prime+6? Are they nuts!

It's max repo plus 6, which is not a bad interest rate. Thus max 8,25% + 6% = 14,25% Max. Hopefully, most people should pay at the midpoint, around 11,25%.

 

[Moto Guzzi]

Treasury launches solar loans for homes and small businesses

The National Treasury has launched the Energy Bounce Back Loan Guarantee Scheme (EBB) — an initiative aimed at alleviating the impact of continuing difficulties resulting from unreliable power supply for small businesses and households.

This follows President Cyril Ramaphosa’s commitment in his 2023 State of the Nation Address to adjust the bounce-back loan scheme (BBS) to enable small businesses to invest in solar equipment.

[SANews]

Now a very basic man made resources at the bottom of any development is 1)-shifted to you the individual, 2)-in a fashion like your next vehicle on credit, so low your electricity becomes a luxury but you dont have a choice if ideology plays out as planned, now this is just wrong, the initial promises might be great, but if one look at how the costs of vehicles skyroketed since 1992+ in an exponential fashion, expect the same here, so my prediction is in near future everybody except few exceptions(That buy from other peoples money) will sit at home spending all there income at Electricity & Digital practies, somewhat starve to bread & poridge and cannot afford a vehicle to drive to work.
This ideology is a pie in the sky for most.
-Credit skyrocket prices, its so easy for the vultures waiting on you.
-So you becomes a credit slave at the base of your existance.
-So you becomes a parts, update, upgrade, replacer slave trying to keep your light going.
No man...........I pray for common sense manna falling from heaven every day.

 

[ToxicBunny]

It's max repo plus 6, which is not a bad interest rate. Thus max 8,25% + 6% = 14,25% Max. Hopefully, most people should pay at the midpoint, around 11,25%.

Yeah, but its largely what one would expect for a standard asset finance deal from the banks.

Its not really anything "special" in terms of the deal, especially with government guaranteeing 20% of the contract, surely it should be closer to Home Loan interest rate ranges.