There are many reasons why a small business might seek a business loan. Expanding the business, purchasing new equipment, and making branding moves like going green are just a few of a myriad of reasons. Going green has been a trend among businesses for years now. This is especially true since consumers are becoming increasingly concerned about purchasing from companies that are environmentally friendly. If you get a small business loan, there are lots of green renovations you can put it towards.
Move to Renewable Sources
The future of energy is green. Sooner or later, businesses are going to have to transition to renewable sources of energy. You can make that transition easier on your company by starting that move now. Consider having solar panels installed on the roof of your business. If you’re renting your workplace, you’ll need to clear this with your landlord first. You may also find it beneficial to start investing in renewable energy certificates. This can be a great way to support green energy generation and work towards meeting sustainability goals.
Reduce Energy Loss
Generating clean, renewable energy is great, but if your building is leaking energy you’re not being as green as you could be. Find ways to reduce the energy loss from your building. Make sure it is properly insulated and that doors and windows are sealed properly. Something simple like painting your building exterior a certain color can reduce energy loss. Remember that darker colors tend to absorb heat while lighter colors tend to reflect it. What color works best may be dependent on the conditions in your location.
Make Energy Efficient Upgrades
A small business loan can also provide you the funding you need to make energy-efficient upgrades to your facilities. Installing energy-efficient LED light bulbs is a great way to continue to provide bright light in your business while using significantly less energy than other types of bulbs. While these bulbs may cost more than other varieties, they’ve come a long way since being introduced, and the price has decreased dramatically over time.
The cost can be a major prohibiting factor in a business’s efforts to be more environmentally responsible. By obtaining a small business loan, you can use the money to transition to more renewable sources, reduce your business’s energy loss, and make energy-efficient upgrades to the workplace. This can help you reduce the impact your company has on the environment and help you appeal to conscientious customers.