Liberis, an embedded finance platform, has developed Cashback for Gree, responding to the growing appetite from its SME customers for green funding solutions.
With 91 per cent of SMEs agreeing it is important to be sustainable, and 42 per cent of this group struggling to do so from a lack of guidance, the scheme has come at a crucial time for business owners looking to reduce their impact on the environment.
Developed in conjunction with Liberis’ strategic partners, the initiative will see small businesses being offered the opportunity to receive cashback on their factor fee when the funding is used for green investments and purchases. Supporting SMEs to gain both a competitive edge and prepare for a low-carbon future, Cashback for Green has been designed to encourage small and medium business owners to make green investments that they may otherwise postpone.
From sustainable supply chains and transport, to energy efficiency and educational programmes, there are a range of green investments that business owners can devote their funding to. These opportunities will allow business owners to demonstrate their commitment to being more environmentally responsible, and revolutionise how they approach green funding. Liberis will be supporting SMEs both in their future success and in reducing their environmental impact, with their long-term goals including a £1m contribution per year towards green initiatives.
Cashback for Green goes live in July, and Liberis’ customers will be able to apply via online channels. When small businesses claim their funding offer they will then be supported by Liberis to navigate green investments and claim cashback. The initiative is expected to be a gamechanger for SME owners who want to create positive environmental change whilst growing their businesses, and is backed by Liberis’ partners, which includes financial services, payments and FinTech companies.
Rob Straathof, CEO of Liberis said: ‘Throughout our conversations with global SMEs, the market demand for impactful green funding solutions is a growing priority. With Cashback for Green, we’re encouraging SMEs to make more sustainable investments, as well as highlighting the impact and benefits of implementing these green practices. We are truly committed to supporting SMEs towards a greener future, and collectively combatting the effects of climate change.”
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