Recycling Minister announces enhanced WRAP Waste Prevention Loan Fund (WPLF)
On the 12th of June Lord Taylor, recycling minister, announced a £1.5 million WRAP Waste Prevention Loan fund designed to support waste prevention and ‘re-use and repair’ projects.
The Waste Prevention loans (available from WRAP) range between £100,000 and £1million and provide a ‘support package’ to UK businesses enabling them to develop smart business models and processes which encourage more efficient use of material resources.
Waste Prevention Loans support:
- Development of innovative business models which lead to waste prevention
- Development of re-use and repair initiatives
The support package available from WRAP will enable organisations to make significant changes to their business processes which will increase profits, reduce consumption of resources and produce less waste.
The Recycling Minister, Lord Taylor made the announcement at the CIWM conference in London.
Lord Taylor said:
“The £1.5 million Waste Prevention Loan Fund will mean we can aid more businesses to plot the course to a more resource efficient future, inspiring businesses to make more efficient use of resources, which is not only good for the environment but also makes good business sense.”
The fund was originally launched in June 2011 and has been widened to encompass projects promoting re-use and repair of resources.
Organisations that are interested in re-use and repair of electrics, textiles and furniture can apply for grants of up to £50,000. The grants can be used for either equipment or business development support, including financial planning and marketing.
To find out more about Waste Prevention Loan Funds available from WRAP, visit http://www.wrap.org.uk/content/wplf