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NationGrowth has loans for alternative energy

NationGrowth Micro-Finance Limited is offering Jamaicans special financing arrangements for the purchase of alternative energy systems and equipment. This will dramatically reduce the cost of electricity bills for consumers within the medium term, with monthly loan repayments being lessened relative to client’s average current electricity bill. The loan period extends for a maximum of five years and effectively generates free electricity for many years with the installation of a full system.

According to chief executive officer of NationGrowth, Kim Edwards-Hamilton, “Energy conservation is a critical component in assisting every householder and business in realising a saving in the current and future cost of electricity. We have packaged a renewable energy loan offer for clients that will increase the use of alternative energy sources and promote energy conservation.”

She said further that, “loans can be accessed to accommodate energy conservation projects, for example conversion to LED fixtures and energy-efficient appliances and the purchase of solar water heaters, solar power systems (photovoltaics), biodigesters and wind turbines.”

Loans are offered at a maximum of J$2 million, subject to clients meeting the necessary requirements. Interest rates are at eight per cent per annum and the borrowing period goes up to five years, including a three-month moratorium on the principal.

benefit of solar system

Following the passage of Hurricane Sandy, IREE Solar, a renewable energy provider, through its managing director, Alexander Hill, pointed out that, “having a solar power system during and after a storm is a huge benefit when the public electricity grid is down”. He stated that, “IREE Solar offers both off-grid and hybrid solar power solutions that allow the owner to generate their own power from the sun during the days and use that power immediately or during the night.”

NationGrowth commenced operations in December 2007. The company was founded by former banker Aubyn Hill. The company aims to be the leading micro-finance company over the long term by extending effectual financial and related services to micro-entrepreneurs, individuals and businesses in the small and medium enterprise sector, by providing fast turnaround decisions on workingcapital assistance and responsive customer service at a profit.

Category/ies:Jamaica News.
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