Kiama Company Secures Australia’s First Green Loan for Electric Outboard Motors | Illawarra Mercury


community, outboard motors, outboard, boating, marine, jet skis, Kiama, innovation, finance

Kiama business E Class Outboards has partnered with Handypay so that its customers can access a simple and affordable green loan for their soon-to-be-released electric outboards, batteries and jet skis. Recognizing how solar green loans have revolutionized rooftop solar adoption, Lynelle Johnson wanted to be the first to provide access to green loans for marine applications in Australia. Read more: Kiama launched environmentally friendly electric speedboats in Australia. “I was very aware that putting an electric speedboat on your boat involved the purchase of expensive batteries,” she said. “I know in the early days of solar it was a bit of a hindrance because people are looking at the price. So I thought it wouldn’t be great if we could do some kind of payment system. “When I started looking around I called all the building societies and banks that had solar loans and none of them were interested. I ended up joining the Clean Energy Finance Corporation which is government funded to encourage net zero tech and they put me on a consumer lender that would do a green loan. “There are no exit fees, 10 year terms, really competitive rates and the application does not affect your credit score.” Ms Johnson said there were two loans available. She said it was great to be involved in a premiere, but she’s not keeping the idea to herself. She told her competitors because she thinks helping the environment is so important. “We don’t apply for a loan or an appraisal. Handypay does all of this,” she said. Ms Johnson said E Class Outboards will be launching electric jet skis soon and Green Navy loans could be used for those as well. This implies that we find existing jet skis. The first is under development and will be in testing soon. “Read more: We depend on subscription revenues to support our journalism. If you can, please register here. If you are already a subscriber, please your Sign up to receive news emails below …


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