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The fund provides up to 100% of project finance to businesses looking to improve energy, water and environmental efficiency, with loans between 4-20 years and repayments being made via local council rates. 

The updated terms mean applicants who apply before the end of June 2020 will have zero application fees, GST can be financed and claimed back on their business activity statements and applicants will have up to six months' repayment holiday, according to a statement released yesterday.  

Additionally, a recent legislation change in Victoria has removed the previous 28 day waiting period on new finance applications, which means projects can get off the ground even quicker. 

"While we understand that environmental upgrade projects may not be front of mind right now, when financed with SAF they can help businesses significantly reduce their operating costs and put more money in their pocket today when it's needed most," SAF CEO Scott Bocskay said. 

"We've launched these special terms to put immediate savings into the pockets of businesses."

The fund partners with a variety of downstream energy providers, including Beon Energy, Cherry Energy Solutions and Zen Energy. 

In December, the Australian Renewable Energy Agency added an extra A$630,000 to the fund's coffers. 

"This project will help to support businesses to reduce emissions, find alternative energy sources and help to understand barriers in the uptake of renewables in the agricultural, commercial and industrial sectors," ARENA CEO Darren Miller said at the time.