The SBCI Future Growth Loan Scheme was introduced in June 2019 and is available for long-term investment in machinery and equipment, research and development, business expansion, premises improvement, process innovation, and investment in people and/or systems.
Support will be available to Micro, SMEs and Small MidCap Enterprises that meet the following criteria:
- fewer than 250 employees;
- turnover of €50m or less (or €43m or less on their balance sheet);
- independent or autonomous i.e. not part of a wider group of enterprises;
- less than 25% of their capital held by public bodies;
- established and operating in the Republic of Ireland; and
- a viable business.
Details of the available finance features are as follows:
- Loans from €100,000 – €3m.
- Loan term for 8 – 10 years.
- Unsecured loans up to €500,000.
- Initial max. interest rate of 4.5% for loans less than €250,000 and 3.5% for loans greater than this.
- Optional interest-only payments may be available at initial stage of loan
Applications and details are available now on the SBCI website.