Ready to apply for Environmental Upgrade Finance?

Before you get started

Make sure you’re eligible

Council offers Environmental Upgrade Finance / Building Upgrade Finance
Property is rateable land
Property use is primarily non-residential
Upgrade project has a measurable environmental benefit
Property and/or property owner is not in the business of fossil fuels, live animal export, livestock farming, gambling, tobacco, or the arms industry
The Applicant’s business/main trading business should be trading for a minimum of 2 years or must have traded in a similar industry for many years
For businesses in VIC and SA, the property owner meets the Over-Leverage test Requirement

What is the Over-Leverage Test?

As a legislative requirement, properties in South Australia and Victoria must meet the Over-Leverage Test (you can read more about this test on our FAQs page under How To Apply).

You (the applicant) are not required to take any further action. Our team at Sustainable Australia Fund will use information from your application to perform this test.

One of our representatives will contact you to discuss your Over-Leverage Test eligibility upon the receipt of this application if we have any questions.

Additional eligibility criteria

Applicant will need to disclose and provide a written notification to Council about all their existing debt secured against the property for which they are seeking EUA. This will be collected as part of the online application form.
Once the Finance has been conditionally approved, the property owner is required to notify all of their existing mortgagees (registered or unregistered) (i) their intention of entering into an EUA and (ii) the details of all the total Environmental Upgrade charges (EUC) repayments over the term of the EUA loan. SAF will provide you with a template letter to be sent to your existing mortgagee once your Finance has been conditionally approved. This is a requirement that is required to be fulfilled as part of the property owner’s obligation under section 181B of the Local Government Act.
If the property owner intends to pass any charges onto the tenant, you will need to obtain a tenant consent form once the finance has been conditionally approved. SAF will provide you with a template letter to send to tenants following conditional approval.
You may be contacted by phone for additional information required as part of our Covid Impact Questionnaire

You’ll need these ready

As a responsible lender, Sustainable Australia Fund need to assess each application for finance for the ability of the borrower to make the repayments. That’s why we need to collect some important information before we can provide finance.

Have these documents on hand for your application.

Details about the upgrade project and the business that is pursuing the project
Property ownership information, including ABN/ACN if applicable, and authorised signatories
Information about existing mortgages, loans or leases that are secured against the property
Project proposal (from the contractor or installer)
Council rates notice
Copy of the property owner’s/Company Director’s (authorized signatories) ID

We might also need some financial information

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.
We will require these documents if:

  • The finance amount is more than $50k, or
  • The annual repayments exceed the project savings by 10% or more.

For applications under $50k, we may contact you to provide financials after application submission as part of our Covid Impact Questionnaire.

What financial documents do I need to supply?

Two years historical accountant prepared accounts (including Profit and Loss and balance sheet)
YTD Management Accounts and Balance Sheet
Tax portal for the last 12 months
Lease Agreement (if in place)

In case the owner entity and the occupier/trading entity are related but separate legal entities, the financials for both the owner entity and occupier/trading entity will be required as part of the credit assessment.

Why do you need this information?

As a responsible lender, we require this information to be satisfied that the business will be able to meet the repayments in accordance with our credit policy.

You can read more about why we require each specific piece of information on our FAQs page, under the How to Apply section.

What is the Covid Impact Questionnaire?

We may need to ask you some questions about the impact Covid-19 has had on your business to ensure we are able to process your loan. The Covid impact questionnaire will be conducted over a phone call with a member of our customer service team.

This application will take 20-30 minutes

Apply via our easy to use online portal.

Start Application

Now Available

The Solar for Business Program is now live! You can cover additional costs to install solar using our finance.

Register your interest for Environmental Upgrade Finance below, and we will be in touch to discuss your project. Limited grants are available, so apply today to ensure you don't miss out!