The Mixed Plastics Loan Fund (MPLF) is currently a £5m fund designed to support the development of new mixed plastics capacity in England. The fund aims to support 100,000 tonnes of annual capacity to mixed plastics packaging from landfill by 2015.
If you have a project to develop mixed plastics processing capacity of over 15,000 tpa and are finding it difficult to obtain finance from the usual commercial sources, WRAP may be able to help. Please note we have defined mixed plastics as non-bottle plastic packaging. Download the product brochure. The Mixed Plastics Loan Fund (MPLF) at this stage is not considering applications for plastics to fuel type processes.
Administration
The MPLF will be administered by the Accelerating Growth Fund Ltd (Regn No 4698093) a wholly owned subsidiary of WRAP.
Investment objectives
The fund can provide asset backed loans for plant, machinery and/or groundworks. The typical maximum loan is £1m; requests for loans above this will be considered only at the discretion of the Investment Committee.
The maximum term for loans is five years though early repayment or shorter terms are regarded favourably.
Terms will be determined by the overall risk profile of your project, including the financial history and credibility of your business, the amount and proposed duration of the loan and any other terms requested. You should be able to demonstrate that you are unable to secure finance from the usual commercial sources when applying to the MPLF.
Apply for a mixed plastics loan
Your project must meet the Project Eligibility Criteria. Please download and complete the Eligibility Checklist and return it to us by email.
On receipt of the completed checklist, you will be contacted, usually within 5 working days, by a Sector Manager to briefly discuss your project. If your project is suitable for the loan fund, you will be sent the application form for completion.
Once fully completed, your application form will be assessed against the technical, financial and strategic criteria and a briefing paper will be submitted to the Investment Committee. The Investment Committee meet once a month.
If approved, we will make you an offer which will be non-binding and subject to full due diligence. If you accept the offer, we will proceed to due diligence, culminating in the formal finance agreement and security documentation being agreed.
Contact us
If you have any questions about the process that we will use, please email Pam Golding us or call 01295 819919.
If you have questions about the criteria we will use to assess your project, please email Claire Shrewsbury or call 01295 819945.
