A €200m SBCI COVID-19 Working Capital Scheme is available for future working capital requirements or to fund the innovation, change or adaptation of the business to mitigate the impact of COVID-19.
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 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 €25,000 – €1.5m.
- Loan term for 1 – 3 years.
- Unsecured loans up to €500,000.
- Maximum interest rate of 4%.
- Optional interest-only payments may be available at initial stage of loan.
Applications and details are available now on the SBCI website.