MetroEco loans drive clean energy savings for SMEs
Cheaper finance to back the clean energy transition for business
The CEFC is supporting independent Australian auto finance lender Metro to provide discount loans to SMEs for electric vehicles, solar PV, batteries, more efficient farming equipment and construction machinery.
$100 million
CEFC commitment
Eco loans
for SMEs
1% discount
on standard rate
“From those working on the land and in the built environment, to business owners managing shops around Australia, upgrading to best-in-class equipment for EVs, energy efficient tractors, harvesters, earth movers and cranes will help improve energy use and reduce emissions.”Ian LearmonthCEO, CEFC
Our investment
The CEFC has committed $100 million to a $500 million MetroEco green securitisation warehouse to make it cheaper for small-to-medium sized businesses to finance electric vehicles, solar PV and batteries and a range of equipment that supports reduced energy use.
The CEFC committed $50 million in July 2024 and extended the commitment to $100 million in November 2024 due to strong consumer demand for electric vehicles. The additional support for the MetroEco program supports decarbonisation pathways for small and medium enterprises by making it cheaper to finance technologies that will unlock further abatement potential.
Metro offers a one per cent discount on its standard rate for eligible customers. The CEFC finance backs half of that discounted rate, with the other half matched by Metro.
The CEFC has previously worked with Metro. In 2018 the CEFC backed the Metro Green initiative that encouraged customers to choose lower emissions passenger and light commercial vehicles.
OUR IMPACT
Backing business to benefit from the energy transition
Australia’s estimated 2.4 million small-to-medium enterprises account for up to 98 per cent of all Australian businesses.1
The CEFC commitment to Metro is seeking to ensure these businesses can benefit from the clean energy transition by investing in best-in-class equipment to help reduce energy use, reduce energy costs and reduce carbon emissions.
The impressive range of renewable energy and energy efficient equipment supported by this initiative has the capacity to improve long-term resilience to energy price fluctuations and help businesses respond to growing consumer demands for greater transparency and sustainability.Richard LovellExecutive Director, CEFC
The commitment to Metro builds on a strong record of CEFC investment to encourage consumers to choose best-in-class clean energy assets. Learn more about our asset finance programs.
Driving EV uptake
The CEFC commitment to MetroEco had helped deliver more than 4,000 EVs on to Australian roads by December 2024. The finance has been used across 26 different EV brands, with significant take up on Tesla and BYD electric vehicles. The CEFC finance can also be deployed for electric trucks, to help address the cost barriers influencing wider uptake.
Supporting informed choices
Metro is engaging with clients and accredited brokers to highlight the benefits of choosing electric and energy efficient vehicle and equipment options to drive greater consumer interest.
The MetroEco website offers more information about EVs, EV charging assets and solar panels to further encourage uptake. Metro plans to gather and publish data on emissions profiles and energy performance to drive broader market uptake. Learn more about MetroEco.
1 Australian Banking Association, Small Business Lending Report, 2020
