Apply for Environmental Upgrade Finance

Environmental Upgrade Finance is a fixed rate, long term loan that gives Australian businesses access to the capital they need to unlock savings and make their buildings more sustainable.

To secure their finance, borrowers enter into an Environmental Upgrade Agreement (EUA) with Sustainable Australia Fund and their local council, who collect the repayments.

As a responsible lender, Sustainable Australia Fund need to assess each application for finance for the ability of the borrower to make the repayments. As such, we need to collect some important information before we can provide finance. See below for an overview of our application requirements and process, or download as a PDF.

Eligibility Checks

First, applicants need to ensure they meet the eligibility checklist:

  1. Council offers Environmental Upgrade Finance / Building Upgrade Finance
  2. Property is rateable land
  3. Property use is primarily non-residential
  4. Upgrade project has a measurable environmental benefit
  5. Property and/or property owner is not in the business of fossil fuels, live animal export, livestock farming, gambling, tobacco, or the arms industry

Online Application

In the online application process applicants will need to:

  • Provide details about the upgrade project and the business that is pursuing the project
  • Provide property ownership information, including ABN/ACN if applicable, and authorised signatories
  • Provide information about existing mortgages, loans or leases that are secured against the property
  • Upload the following documents:
    • Project proposal (from the contractor or installer)
    • Council rates notice
    • Copy of property owner’s ID


Depending on the nature of the application, we may also need to see some financial documents, in accordance with our Credit Policy, to be satisfied that the business will be able to meet the repayments. This is usually if the finance amount is more than $50k, or the annual repayments exceed the project savings by 10% or more.

The financial documents we need to see are for the owning entity of property. However, if the property is occupied by a related entity to the owner, who will be responsible for the repayments, we will also need to see their documents.

The financial documents below can be uploaded in the online application, or a member of the Sustainable Australia Fund team will get in touch afterwards to explain.

1. Last two years of accountant-prepared annual financial statements This provides evidence that the business has been in the same sort of business for two years and allows us to assess its ability to make the repayments
2. Unless the last financial statements are for a period ended less than 3 months ago, we will also need to see the current year to date (YTD) management accounts (P&L and Balance sheet)  This is to check for any recent material changes in the business that we may need to understand more about
3. 12 months of itemised account from your ATO Tax Agent Portal We need to see if payments to the ATO are being made late as this may indicate difficulties in meeting payment obligations on time, and therefore ability to meet the repayments

Application Process

Below are the typical steps before we can finance the project:

1. Online application form

Property owner or authorised representative complete online application form. Your council will be alerted of your intention to enter into an Environmental Upgrade Agreement (EUA)

2. Additional documents and proof

We will be in touch with information about additional documentation or proof we need to progress your application

3. Credit assessment

Your application goes into credit assessment

4. Conditional approval     

SAF issues a Letter of Offer and any conditions of approval to be resolved

5. Unconditional approval

Property owner, SAF and Council sign EUA

Ready to apply?

If you’ve read the above information, have the required documents at hand and are ready to go, then please click the below link to go to our secure online application portal.