The Waste Prevention Loan Fund (WPLF) is funded and administered by the Waste and Resources Action Programme (WRAP).
Its initial mission, and the focus of its first three-year business plan, was to create new markets for the additional materials which would be collected and recycled as part of the drive to reduce the volume of waste which was sent to landfill.
As announced in the Government Review of Waste Policy in England 2011, the Waste Prevention Loan Fund (WPLF) has been established to enable organisations to introduce business models and processes which make more efficient use of material resources. Examples include product reuse, repair and upgrading services (eg through leasing), and materials recovery and reuse by the manufacturer.
The Fund will support organisations to develop innovative, more resource-efficient ways of doing business in England. This includes:
- innovative business models to reduce the products and resources consumed
- increasing re-use, repair and recovery capacity, this is open to both commercial and third sector businesses.
Textiles, electricals and furniture are the priority materials to reduce their environmental impacts, the quantity of products going to waste and the UK’s reliance on the resources required to make these products. However WRAP will consider applications of other materials that also demonstrate significant environmental benefits.
For businesses interested in re-use and repair of textiles, electricals and furniture specifically, the following support is available:
- Grants of up to £50,000 eg for equipment;
- Business development support, eg marketing and financial planning;
- Loans of between £100,000 and £1 million.
Applications may be submitted at any time.
The Loan Fund operates in England and is open to organisations operating in England and business models. Applicants may include businesses, social enterprises and local authorities. Applications will be invited in phases for different types of activity.
Simple examples include: changing from product sales to service delivery (eg leasing), creating customer incentives to return products for re-manufacture, re-use or recycling. In addition to the loan fund, WRAP may be able to help identify new finance partners who are better placed to understand and finance new business opportunities.
Although there are no specific exclusions cited within the programme guidelines, those wishing to apply are advised to liaise with the funding provider in the first instance to discuss eligibility.
WRAP will contact applicants within 10 working days of receiving the completed form to discuss the proposition in more detail. This will enable WRAP to understand how it aligns to its strategic objectives.
Following this initial screening, WRAP will send further details including the application form to candidate propositions which fit with the objectives. WRAP may be able to assist with the loan application process.