Used phone businesses help promote global sustainability by extending device lifecycles, reducing resource extraction and overproduction, and encouraging conscious consumption. However, adopting green practices requires financial investments and professional expertise, which not all companies can afford. Fortunately, some governmental and non-governmental organizations support businesses on their green journey. Today, we are exploring the business funding options available to enterprises in Germany.
If your business is located in another country, you may find our articles about sustainable grants and loans in the UK, Ireland, Spain, Italy, the USA, France, or Poland helpful.
Green Grants for Businesses in Germany
Green grants are non-repayable funding provided for sustainable initiatives. They typically require regular reporting on the project's progress and transparency regarding the company's environmental impact.
Germany and the European Union provide numerous sustainable grants for businesses of various sizes and specializations. Here are several options that can benefit used device businesses.
LIFE Programme Grants
The LIFE program is a comprehensive European Union environmental and climate protection initiative. It finances several sub-programs, including the "Circular economy and quality of life" which can be beneficial to SMEs in our industry.
This sub-program supports companies in developing and implementing innovative solutions that minimize resource use and enhance product durability. Grants cover up to 60% of eligible project costs, and this funding is non-repayable.
DBU Grants
The German Federal Environmental Foundation (Deutsche Bundesstiftung Umwelt or DBU) is an organization that supports small and medium enterprises in implementing innovative and sustainable practices.
DBU offers 12 funding programs for various projects, along with an open-topic initiative to ensure that any business in need of support can receive it. Expert advice will help your business achieve the best results and maximize the impact of your environmental projects.
BMU Grants
The Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection (Bundesministerium für Umwelt or BMU) provides grants to support climate action initiatives and efficient resource use. SMEs can benefit from the Environmental Innovation Program, which funds the implementation of cutting-edge technologies to reduce and prevent harm to the environment.
BMWK Grants
The Federal Ministry of Economics and Climate Protection (Bundesministerium für Wirtschaft und Klimaschutz or BMWK) funds the Central Innovation Programme (ZIM) for SMEs, supporting local initiatives in implementing innovations and environmentally friendly practices. Maximum project costs depend on the form of the project.
Green Loans for Businesses in Germany
Loans are repayable funds that can help businesses meet their goals. Green loans differ from average loans as they are given on a specific sustainable project and often have more favorable conditions: lower interest rates, grace periods, etc.
We have collected loan options that might be useful for German used device businesses. However, there are many more of them, primarily provided by banks. Researching and comparing available opportunities can help you find the best fit for your business.
Pro FIT Loans
The Pro FIT program is an initiative for businesses in Berlin, and it is funded by the State of Berlin through the Investitionsbank Berlin (IBB) and co-funded by the European Regional Development Fund (ERDF).
Pro FIT supports technological innovation projects in research and development or implementation of cutting-edge technologies. The program provides both grants and loans for SMEs, non-SMEs, and research institutions. Funding depends on the eligible costs, the state of the project, and other factors. Loans are provided for up to €1 million, and grants are available for up to €400,000.
KfW Loans
KfW is Germany's national development bank, which provides multiple loan options, including those aimed at sustainable development. These loans primarily target major green goals, such as implementing alternative energy sources or climate action initiatives. However, there are loans for SMEs aimed at increasing energy efficiency and environmental protection.
Funding conditions vary depending on the project type and the business's financial requirements.
Green Innovation for Your Used Device Business
Whether you apply for a green loan or a grant, you need to have a specific project for which you attract funding. A great example of this project for businesses in our industry is the implementation of a sustainable, innovative device testing robot, such as Reeva from NSYS Group.
Reeva is a cutting-edge technology that can be used both in-store and in warehouses. It automates device testing, grading, pricing, and wiping, eliminating human errors and fraud.
Click the button below to arrange a demo of this innovation!
