Kiama business E Class Outboards has partnered with Handypay so its customers can access a simple, affordable green loan for their electric outboards, batteries and soon to be released jet skis.
Aware of how solar green loans have revolutionised the uptake of rooftop solar Lynelle Johnson wanted to be the first to offer access to green loans for marine applications in Australia.
Ms Johnson said it meant people can own an electric outboard and battery pack from $20 per week which is less than the price of a tank of petrol.
"I was very aware of the fact that putting an electric outboard on your boat involved buying expensive batteries," she said.
"I know in the early days of solar it was a bit of a barrier because people look at the price. So I thought wouldn't it be great if we could do some kind of payment scheme.
"When I started to look around I rang every building society and every bank that had solar loans and none of them were interested. I ended up getting onto the Clean Energy Finance Corporation which is government funded to encourage net zero technologies and they put me onto a consumer lender who would do a green loan.
"There are no exit fees, 10-year terms, really competitive rates and applying doesn't affect your credit score."
Ms Johnson said there are two loans available.
She said it was great to be involved in a first but she is not keeping the idea to herself. She has been telling competitors because she thinks helping the environment in so important.
"We don't do the loan application or assessment. Handypay do all that," she said.
Ms Johnson said E Class Outboards will soon be launching electric jet skis and the green marine loans can also be able to be used for those.
It involves us retro fitting existing jet skis. The first is being fitted out now and will soon be at the testing stage."
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