Funding news - 13/06/2012
Waste Prevention Loan Fund (WPLF) - Scheme Relaunched (England)
The Waste Prevention Loan Fund (WPLF) was first established in 2011 to enable organisations to introduce business models and processes which make more efficient use of material resources.
The scheme has now been reintroduced with new funding and new objectives and now operates as a loan and grant facility.
Organisations are being supported to develop innovative, more resource-efficient ways of doing business in England. This includes:
- Innovative business models to reduce the products and resources consumed.
- Increasing re-use, repair and recovery capacity, this is open to both commercial and third sector businesses.
Textiles, electricals and furniture are the priority materials to reduce their environmental impacts, the quantity of products going to waste and the UK’s reliance on the resources required to make these products. However WRAP will consider applications of other materials that also demonstrate significant environmental benefits.
For businesses interested in re-use and repair of textiles, electricals and furniture specifically, the following support is available:
- Grants of up to £50,000 eg for equipment.
- Business development support, eg marketing and financial planning.
- Loans of between £100,000 and £1 million.
Examples of eligible projects include: changing from product sales to service delivery (eg leasing), creating customer incentives to return products for re-manufacture, re-use or recycling. In addition to the loan fund, WRAP may be able to help identify new finance partners who are better placed to understand and finance new business opportunities.
The scheme operates in England and is open to organisations operating in England and business models. Applicants may include businesses, social enterprises and local authorities.
Matthew Broadbent, Head of Financial Mechanisms at WRAP said:
"WRAP’s new financial support package to businesses aims to take advantage of the great creative and entrepreneurial spirit across England. In these times of austerity, opportunities to make even small savings are important. Finding smart ways to prevent waste arising in the first place and then re-use or repair what is created makes pure business sense. We know there are lots of creative ideas out there so we're looking for opportunities to scale these up to really make a bigger difference, driving green growth further and faster."
Applications may be submitted at any time.
Click here for more information (opens in new window).
Source: WRAP England, 12/06/2012