Who is eligible for SMFs Environmental Upgrade Finance?

You’re eligible to apply for our finance if you occupy or own a non-residential property in any local government area currently offering the program. To be considered you should:

  • Is the activity on rateable land?
  • Is the activity in/on an existing building?
  • Is the primarily for non-residential use?
  • Does the activity improve the energy, water, environmental efficiency or sustainability of the building?

Is their a minimum loan size?

SMFs Environmental Upgrade Finance will consider financing any amount above $15,000.00

How do I repay the finance?

We can arrange for quarterly repayments of your finance through your council rates, if you building is tenanted these cost can be passed through to the tenant with their consent

I’m a tenant, how do I pay council rates?

Council rates are a statutory charge upon the building. Under most net leases, such charges can be recovered through the outgoings clauses of the lease.  Where the tenant agrees, these new council charges can be passed through using these existing clauses.

What happens if my tenant fails to pay?

If you’re tenant fails to pay rent and therefore the Environmental Upgrade Finance , the building owner will liable to pay the quarterly repayments. We conduct finance checks on both the tenant and building owners before approving finance making this situation very unlikely.

Can I exit early from Environmental Upgrade Finance?

You are able to repay your loan sooner and leave early if it suits your needs. Please call if you’re considering this and we can discuss the process

Moving or selling

What happens to the loan should I sell the building?

As the loan is tied to the building should you sell, the Environmental Upgrade Finance can be passed onto the new owner.

What happens to the loan should a tenant move out?

There is no need to align the Environmental Upgrade Finance to the term of the lease. If your tenant decides not to extend the lease the replacement tenant can pick up the residual payments.

Agreement between tenants and building owners

I’m a tenant, how do I engage with the building owner to agree to Environmental Upgrade Finance?

We can help make arrangements with your building owner, just contact us to discuss how we can best engage

I’m a building owner, how do I engage with the tenant to agree to Environmental Upgrade Finance?

We can help you discuss the benefits of your project with your tenant, and potentially negotiate part of the Environmental Upgrade Finance so your tenant contributes. . We can also guide you on other environmental improvement, such as lighting upgrades, to make this even more attractive for your tenant, and improve the overall capital value of your building.