How green lending can help businesses achieve their sustainability goals.
Why Choose MetroEco?
MetroEco – a product designed to make it easier for you and your business to invest in green technology and reduce carbon footprint.
Our MetroEco asset finance product was specifically created to support businesses on their sustainability journey by accessing a range of green assets including electric vehicles (EVs), chargers, solar panels, batteries and other earthmoving and agricultural equipment, while taking advantage of additional benefits along the way.
Metro is a proud commercial partner of the Australian Government’s Clean Energy Finance Corporation (CEFC) and offers MetroEco customers low interest green loans for specific assets, with the added benefit of flexible loan terms and the ability to bundle multiple assets into one loan for extra convenience.
Loan Step Process
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To start your MetroEco green business loan application, speak to one of our knowledgeable and accredited brokers. Metro brokers are well-versed in our loan products and can provide you with guidance and support to help you through the application process seamlessly.
Let’s Chat
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Once you’ve decided on the right finance option for you, our accredited brokers will take the reins and submit your loan application. Our brokers are experts in the application process and will ensure that all the necessary information is accurately gathered and included in your submission, giving you peace of mind in knowing they will handle the process effectively, keeping you informed at every step along the way.
Let’s Chat
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Upon receiving your application, our analysts will carefully review and assess the information provided.
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If your application is approved, we will present you with a comprehensive finance offer, outlining the terms, conditions, interest rates, repayment structure, and any other relevant details.
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Your asset supplier will typically receive the funds within 24 hours from settlement. Once the funds have been received, you can arrange to collect or have installed your new asset. This streamlined process ensures that you can swiftly enjoy and benefit from your new purchase without unnecessary delays.
What we can finance
Through green lending, Metro finances the latest electric vehicles from various brands as well as a range of other assets to support your business’s sustainability goals, including EV charging and solar power, light commercial vehicles and heavy commercial vehicles, as well as other tertiary assets including machinery and equipment such as:
- Tractors
- Harvesters
- Wheeled Handling Equipment
- Other Self-Propelled Equipment
- Tillage/Seeding
- Spraying
- Grain Handling
- Hay & Silage
- Other Implements & Equipment
- Loaders/Excavators (< 10T)
- Mid Excavators (10>40T)
- Large Excavators (> 40T)
- Backhoes
- Bulldozers
- Grain Handling
- Scrapers/Graders
- Medium Commercial (3.5>12T GVM)
- Heavy Commercial (> 12T GVM)
- Bus
- Mobile Crane
- Crusher / Screener
- Chipper / Mulcher
- GPS Unit
Eligibility for a Green Business Loan
- Age Requirement: Applicants must be at least 18 years old to be eligible for financing through Metro.
- Residency: Financing is available to Permanent Residents and Australian citizens.
- Creditworthiness: Metro considers the credit history of applicants when evaluating loan applications.
Green Resources for Your Business
At Metro, we know buying an electric vehicle might feel a bit overwhelming. That’s why we’ve gathered a range of resources to help you make the best decision for your needs.
EV Charging Stations Map
Find the closest electric vehicle charging station near you. Use this live map created by the Electric Vehicle Council to locate all charging stations across Australia.
View Charging Stations Across Australia
Government Initiatives
Discover how state governments across Australia are promoting electric vehicles through various initiatives including subsidies, rebates and tax incentives.
For the latest updates in each state:
New South Wales
Queensland
Victoria
South Australia
Western Australia
Canberra
Northern Territory
Tasmania
Electric Vehicles Available in Australia
Navigate the Future: Australia’s Comprehensive Electric Vehicle Guide.
Electric Vehicles Available
Worried where you can charge your electric car?
The Electric Vehicle Council has put together a live map that shows all charging stations across Australia.
Find Your Closest Charging Station Here
Frequently Asked Questions
What is Green Lending?
Green lending is the term that applies to finance products designed to help individuals and businesses access assets, such as vehicles and machinery, that offer sustainable benefits – such as low to zero emissions or provide/use renewable energy. Often these products also include further discounts and flexible terms, making them a popular option for many people looking to secure finance for themselves or their business.
Why should I apply for a Business Green Loan?
Green and sustainable assets are not just better for the environment, they can also help your back pocket. By incorporating green assets into your business you could take advantage of government incentives such as tax breaks and discounts, as well as positively impacting your business’s reputation with customers and the wider community.
How are green commercial loans different from other loans?
As they are specifically tailored to support sustainable and environmentally conscious initiatives, there are a range of distinguishing features of green commercial loans. This includes:
- Purpose: Green finance loans are specifically designed to finance assets that contribute to environmental sustainability. They are intended for businesses seeking to implement or expand eco-friendly practices, invest in renewable energy, adopt energy-efficient technologies, or fund green infrastructure projects.
- Eligible Assets: Green commercial loans focus on financing assets that have a positive environmental impact and align with social responsibility initiatives.
- Environmental Criteria: Unlike traditional loans, green commercial loans incorporate specific environmental criteria for eligibility, and to help support impact investing and sustainable development.
- Competitive Terms: Green finance loans often come with competitive terms and favourable interest rates, such as MetroEco’s 1% discount that compounds over time. Lenders recognise the long-term financial viability and positive environmental outcomes associated with sustainable assets, making them more inclined to offer attractive financing packages to eligible businesses.
- Expertise and Guidance: Lenders specialising in sustainable asset finance loans often have expertise and resources dedicated to the green sector. At Metro, our accredited broker network can provide valuable insights, guidance, and support throughout the loan application process, assisting borrowers in navigating the complexities of sustainable finance and ensuring compliance with environmental regulations.
- Reputation and Stakeholder Alignment: By securing a green finance loan, businesses can enhance their reputation and align themselves with environmental responsibility. This resonates with stakeholders, including customers, investors, and the community, as they increasingly prioritise sustainable practices and environmentally friendly businesses.
What factors are considered when evaluating loan applications?
When evaluating loan applications for electric vehicle financing, Metro considers several factors to determine eligibility and loan terms. These factors are some of the factors we may consider:
- Credit History: Your credit history plays a significant role in the loan evaluation process. Metro considers factors such as credit score, payment history, credit utilisation, and the presence of any derogatory marks.
- Metro assesses your income and employment stability to gauge your ability to make timely loan repayments. They may consider factors such as your employment history, income level, and consistency of income.
- Which compares your monthly debt obligations to your income. A lower debt-to-income ratio indicates a healthier financial position and a higher likelihood of loan approval.
- Loan Amount and Term: Metro assesses the loan amount being requested and the proposed loan term. The loan term is evaluated to ensure that it is reasonable and feasible for the borrower to repay the loan within the given timeframe.
- Down Payment: Providing a down payment reduces the loan amount and shows your commitment to the loan.
- Loan Term and Repayment Ability: Metro also considers the loan term and assesses your ability to comfortably make loan repayments within the specified timeframe. This may include evaluating your income, expenses, and other financial obligations to ensure that the loan is manageable for you.
To find out more about the lending process with Metro, talk to one of our friendly, award-winning brokers. Start a conversation by clicking here.
How long does it take to receive a decision on the loan application?
While the exact timeframe can vary depending on various factors, including the completeness of the application and the complexity of the financing request, we strive to provide a decision as quickly as possible.
Is collateral required to secure the loan?
Yes, Metro only offers secured loans.
How do you finance with Metro?
To begin financing with Metro, simply click here to connect with a broker who can assist you with the application process.
I own a business - can I finance through you?
Yes, business owners can certainly finance through Metro. We offer a range of commercial products tailored to meet the unique needs of businesses. For more information and to discuss your specific requirements, please speak to our commercial products team.
What assets can I finance with MetroEco?
Metro provides financing options for a range of assets, such as electric vehicles and chargers, solar panels and other sustainable equipment. We are passionate about supporting initiatives that promote environmental sustainability and are happy to help you invest in green solutions for your business.
Commercial Finance
Competitive business loans for vehicles and equipment
Personal Finance
Flexible loan terms and competitive finance rates.
Novated Leases
Salary packaged through an employer or salary packager.
Broker Portal
Efficient and easy to use, catering to all borrowing types.
If you’re ready to get your business moving with a green business loan, we’re here to help.
Our team can get you in touch with one of our trusted brokers or salary packager introducers.