£60m loans to save energy

The Carbon Trust's Big Business Refit will tomorrow confirm that it has lent £60m to small and medium-sized companies.

The firms have replaced old energy equipment and cut back on energy costs with interest-free loans of up to £500,000. TV's Dragon's Den star, Theo Paphitis is backing the campaign. Since last April more than 1,847 businesses have used the scheme. The Carbon Trust estimates that savings of £20m have now been made by SMEs because of the new kit.