The Way We Green

The best credit cards for customers who are eager to go green offer the option to participate in different donation schemes. Cardholders who wish to contribute to environmental protection benefit from this. Such cards also come with plenty of added benefits such as no annual fee, points to be redeemed for green merchandise, and plenty more. There is a choice of different cards that support wildlife and conservation efforts through paperless statements and donations.

MBNA Cards and Charity Donations

MBNA offers specialty cards together with Ducks Unlimited Canada and the Canadian Wildlife Federation so that both entities receive donations. The Canadian Wildlife Federation is a specialty credit card that offers a promotional rate of just 1.99 over a period of 10 months. The rate is valid for balance transfers to deal with high-interest credit cards. Each eligible purchase you make helps support the federation. An added benefit is the fact that there is no annual fee. Ducks Unlimited is another card with no annual fee that allows you to make donations and contribute to Canada’s wetland protection and preservation. The card also goes with a promo rate of 1.99 percent and points that can be redeemed for donations, gift cards, merchandise, travel expenses, as well as cash back.

Scotiabank Cards: Paperless Statements

Scotiabank offers products with paperless statements to reduce waste and help protect the environment. You can pick a card with a low interest rate and added benefits such as Scotiabank Value, for example, that goes with a rate of just 11.99 percent. An added incentive is the 1.99 promotional rate on balance transfers which you can take advantage of during the first 6 months. You can choose to receive paperless statements and will also benefit from car rental discounts, smartphone easy payments, supplementary cards, and a low annual fee of $29. You also get a minimum credit limit of $500, which is a good thing if you tend to overspend or need to boost your credit score. The No-Fee Scotiabank Card is an alternative option, also with paperless statements, no annual fee, and a competitive interest rate of 16.99 percent. The intro rate is 3.99 during the first 6 months and is offered on balance transfers.

BMO Cards: Support for Environmental Conservation

The Bank of Montreal offers its customers the opportunity to contribute to environmental protection through the BMO WWF-Canada MasterCard. WWF-Canada is a nation-wide organization that focuses on climate change, sustainability, and environmental conservation. This product is offered as part of an Affinity Card Program and offers incentives such as 1 percent cashback on purchases or 1 airmiles rewards point for each $20 you spend on purchases. The amount you donate depends on which option you choose. With the airmiles card, a contribution of 0.25 percent is made on all purchases charged on the card. If you choose the cashback option, the contribution is slightly lower – 0.15 percent.

Sometimes when you have outstanding debt and bad credit you don’t have many options and getting a credit card that supports going green, might not be an option. People that have such problems, still have a few options to get a credit card, and the best one is getting a secured credit card. If you don’t have the funds for security deposit you can apply for a credit card for bad credit, bit you should be aware that there is a risk to plunge you into debt even further.

Solar panels help save on energy and are a green solution for your house or vacation home. There are financing options available if you are short of cash and have bad or average credit, including loans by peer to peer lending networks and banks, secured lines of credit, and others.

There are lending services that offer financing for solar panels and other green solutions and serve customers with different credit profiles. While your score is one factor that lenders look into, they are also interested in your debt to income ratio, employment status and history, and so on. This means that your score is a factor that lending services consider but it is not the major one. Some providers even offer loans with no down payment and no credit score requirements. With other lenders, interest is tax deductible which saves you a lot of money. Another option is to apply with a major bank, credit union, or your local bank. Many financial institutions in Canada offer secured loans and LOCs to borrowers with a less than perfect score and require some valuable asset to guarantee prompt repayment. This can be any asset of value, for example, collectibles and jewelry, vehicle, tools of trade, etc. There are other options to look into, including power purchase agreements, home equity lines of credit, and others. A power purchase agreement is a form of contract to purchase electricity which sets the terms and conditions, i.e. performance terms, pricing, and delivery point. A home equity line of credit is another option to gain access to affordable financing if you are a homeowner. Financial institutions are more willing to extend secured LOCs because your home equity serves as a guarantee. This means that they have the right to seize your property if you are unable to repay the outstanding balance. Unsecured lines of credit are usually extended to customers with stellar and very good scores and those with long and established payment histories.

Solar panels cost a lot of money (up to $60,000), which makes financing a costly endeavor. One option is to join a solar power program and make money by selling energy. The energy produced by your solar panels goes to the main power grid. This is a form of solar lease which has pros and cons. On the downside, it may affect your home’s resale price, and there are bureaucratic issues to deal with. The good news is that provincial governments offer significant subsidies to maintain and install solar panels. In addition to money-saver programs, there are other financing options to consider – cash in your savings account, a loan by friends or family, your credit card, and peer to peer lending networks. You can use your credit card to make a down payment or pay the full amount, depending on your credit limit. This is a good idea only if you use a credit card with a low rate and a long grace period. Peer to peer lenders are also willing to extend loans to borrowers with less than perfect scores based on factors such as income level, type of employment, loan purpose and amount, and others. If you have enough cash in your account, this is the least expensive option to purchase and install solar panels.

There are many businesses with less than perfect credit that need financing for green projects that are both profitable and good for the environment. The good news is that loans are available through angel investors, peer to peer lenders, banks, credit unions, and other financial institutions, and under different government programs.

Grants and Funding under Government Programs

Canadian businesses are offered green grants and other types of funding for community and home projects. One option is to apply with the Business Development Bank of Canada which provides venture capital, subordinate financing, consulting services, and financing to medium-sized companies and small business owners. Another option is to apply for funding through the Atlantic Canada Opportunities Agency which works with different business agencies. The goal is to stimulate economic growth and development by diversifying local economies and making businesses more innovative and competitive. Funding is also available at the provincial level, one option being the Agriculture Financial Services Corporation. Businesses have access to financing by different government funds and programs such as the Automotive Supplier Innovation Program, Agri-Innovation Program, Advanced Manufacturing Fund, and others. Eligible expenses may include expertise related expenses, non-capital, capital, labor, etc. The goal is to finance cutting-edge technology and advanced solutions to promote innovation and boost productivity. Depending on the program or fund, the scope can be local, regional, and even national. Financing is offered to develop and implement branding and marketing plans, for trade missions, conferences, and trade shows, and to create advertising materials. Businesses are also offered financing for pre-commercialization testing, product engineering, and prototyping.

Banks and Other Sources

Businesses with less than perfect credit are usually offered secured loans for green and community projects, which is one alternative to government financing. Secured loans require some type of business collateral, for example, real estate, deposits and cash savings, equipment and machinery, vehicles, accounts receivable and business inventory, etc. This is one way to access affordable financing but businesses risk losing the collateral in case of default. Unsecured loans are also available but many banks are unwilling to lend to businesses with poor and average credit. If you are a long-term customer and have other accounts at your bank or credit union, you have better chances even if your credit score is less than perfect. Angel investors also offer financing for green projects but require ownership equity. This is one solution for start-up businesses with average credit. There are different types of angel investors, including limited liability companies, businesses, and trusts.

Green living is about environmentally friendly materials, products, foods, and lifestyle. It is also about environmental protection, resource conservation, and energy efficiency. In Canada, more and more people opt for sustainable homes that can function off the grid and save on energy and water. Sustainable homes are equipped with solar panels with battery storage, water is purified with ultraviolet light, and with sewage that can be treated onsite. Homeowners also benefit from large windows that take and reemit heat, concrete floors for better energy efficiency, and propane-powered floor heating.

An increasing number of Canadians choose to buy eco-friendly homes in green villages. This is a high-tech retreat outside large towns and cities, often self-powered and equipped with green appliances and pressurized tanks. Many manufacturers now offer high-grade, eco-friendly appliances, including fridges, washing machines, ovens, microwaves, and other large and small appliances. The best part is that green homes do not need constant power for appliances to function or pumps to operate. Green living also means saving on nonrenewable resources such as coal and oil. To this, more and more manufacturers offer eco-friendly vehicles such as electric and hybrid cars. Alternative fuels are often used to power new model vehicles, including natural gas, flexible-fuel, neat ethanol, and fuel-cell vehicles. There are also hydrogen, compressed-air, and battery electric vehicles. Manufacturers also offer plug-in electric vehicles that make use of advanced technologies.

Green living is also about organic foods and buying products made of green materials, including furniture, clothing, detergents and cleaning solutions, and so on. Manufacturers advertise organic products that are free of chemicals and harmful ingredients and help reduce greenhouse gas emissions. There are great eco-friendly products for your home, office, business trip, or holiday overseas, including battery chargers, green lamps, hand-powered shredders, moss carpets, remote controls, accessories, and a lot more. Green living is also about buying local, seasonal produce to save on transportation and reduce harmful emissions. Organic products are also good for health while buying seasonal products benefits local economies and communities.

Resources:

http://www.altenergy.org/renewables/renewables.html

http://www.treehugger.com/htgg/how-to-go-green-furniture.html