SBCI Future Growth Loan | Business Banking | Ulster Bank

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SBCI and Ulster Bank supporting local enterprise.

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Loans are for specific business purposes only and are subject to their terms and conditions, security and lending criteria. They are subject to availability. Each case is assessed on an individual basis. Applicants must be over 18 years of age.

For interest only borrowers:

WARNING: THE ENTIRE AMOUNT THAT YOU HAVE BORROWED WILL STILL BE OUTSTANDING AT THE END OF THE INTEREST-ONLY PERIOD.

For variable rate borrowers: 

WARNING: THE COST OF YOUR REPAYMENTS MAY INCREASE.

SBCI Loan
Add your signposting title here… SBCI Future Growth Loan Scheme

The Future Growth Loan Scheme is offered by the Strategic Banking Corporation of Ireland (SBCI) with the support of the Department of Business Enterprise and Innovation, the Department of Agriculture Food and the Marine, the European Investment Bank and the European Investment Fund. The Future Growth Loan Scheme benefits from a guarantee from the European Union under the European Fund for Strategic Investments (EFSI).

The Scheme is available to all Irish SMEs and the primary agriculture and seafood sector to support long term investment.

Applications for loan eligibility can be made from 17 April 2019.

The first step is to confirm eligibility to apply for a loan in the Scheme by completing the Eligibility Application Form available at www.sbci.gov.ie. You will receive an eligibility letter if your application is successful. This eligibility letter is not a guarantee of loan approval.

A loan to support your business

 

At Ulster Bank we are dedicated to supporting local enterprise. Which is why we are delighted to work with the Strategic Banking Corporation of Ireland (SBCI) to bring lower cost, long-term, innovative and accessible funding to independent Irish businesses.

The SBCI Future Growth Loan scheme will be available for a three year period or until the scheme has been fully subscribed.

 

SME and Small Midcap Applicants not involved in primary agriculture

Product Features

 Loan amounts from €100,000 to a maximum of €3,000,000 per applicant.

 

 Initial maximum loan interest rate of 4.5% for loans <€250,000 and 3.5% for loans (greater than or equal to) €250,000. Variable interest rates are subject to change.

 

 Loan terms ranging from 8 to 10 years.

 

 Unsecured loans up to €500,000.

 

 Optional interest-only repayments available in certain circumstances.

 

 Loans can be used for long term investment.

Loan Purpose

Applicants must choose one of the below loan purposes

 

  Investment in Machinery or Equipment

 

  Investment in Research and Development 

 

  Investment in Business Expansion

 

  Investment in Premises Improvement

 

  Investment in Process Innovation

 

  Investment in People and/or Systems 

Loans cannot be used for

Activities below are excluded for loan purposes.

 

  Finance of pure real estate development activity.

 

  Loans to undertakings in difficulty.

 

  Refinance to reschedule existing loan or completed project.

 

  Aid for the acquisition of road freight transport vehicles.

 

  Restricted Sectors - Please refer to the following SBCI Link for more information on restricted sectors and exclusions.

Who can apply

Micro, small and medium sized enterprises (SMEs) and Small MidCap enterprises that meet the eligibility criteria.

 

SMEs are defined by the Standard EU definition [Commission Regulation 2003/361/EC] as enterprises that:

 

 Have fewer than 250 employees.

 

 Have a turnover of €50 million or less (or €43 million or less on their balance sheet).

 

 Are independent and autonomous i.e. not part of a wider group of enterprises.

 

 Have less than 25% of their capital held by public bodies.

 

 Is established and operating in the Republic of Ireland.

 

A Small Mid-Cap is an enterprise that is not an SME but has fewer than 500 employees.

SME Applicants involved in primary agriculture

Product Features

 Loan amounts from €50,000 to a maximum of €3,000,000 per applicant.

 

 Initial maximum loan interest rate of 4.5% for loans <€250,000 and 3.5% for loans (greater than or equal to) €250,000. Variable interest rates are subject to change.

 

 Loan terms ranging from 8 to 10 years.

 

 Unsecured loans up to €500,000.

 

 Optional interest only repayments available in certain circumstances.

 

 Loans can be used for long term investment.

Loan Purpose

Applicants must choose one of the below loan purposes 

 

 The improvement of the overall performance and sustainability of the agriculture holding. 

 

 The improvement of the natural environment, hygiene conditions or animal standards, provided the investment goes beyond EU standards.

 

 The creation and improvement of infrastructure related to development adaptation and modernisation of agriculture. 

 

 The achievement of agri-environmental-climate objectives.

 

 The restoration of production potential damaged by natural disasters, adverse climatic events, animal diseases, plant pests and the prevention of damages caused by those events.

Loans cannot be used for

  Loans to support export related activities towards third countries or other EU member states.

 

  Loan contingent upon the use of domestic over imported goods.

 

  Loans to support investment required to comply with EU standards in force.

 

  Loans to undertakings in difficultly.

 

  Loans to support the purchase of production rights, payment entitlements and annual plants.

 

 For all loans exclusions please refer to the following SBCI link for more information.

Who can apply

Applicants are viable micro, small and medium sized enterprises (SMEs) involved in primary agriculture.

 

An SME is defined by the Standard EU definition [Commission Regulation 2003/361/EC] as an enterprise that:

 

 Have fewer than 250 employees.

 

 Have a turnover of €50 million or less (or €43 million or less on their balance sheet).

 

 Are independent and autonomous i.e. not part of a wider group of enterprises.

 

 Have less than 25% of their capital held by public bodies.

 

 Is established and operating in the Republic of Ireland.

Ulster Bank / Future Growth Loan Scheme

How do I find out if my business is eligible for the Future Growth Loan Scheme?

To find out if you are eligible to apply for the SBCI Future Growth Loan Scheme please contact the SBCI to be assessed SBCI Website.

What Future Growth Loan Scheme specific information will I need to supply to Ulster Bank?

 SBCI Eligibility confirmation letter to be provided to Ulster Bank

 Provision of an SBCI Future Growth Loan Scheme Business Plan, a template is provided on the SBCI Website.

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Approval of loans is subject to status and conditions

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Need to knows Is this loan State Aid?

The provision of funding for the business term loan is being made under the De Minimis regulations which permit the provision of State Aid.

Businesses may avail of De Minimis Aid provided it does not exceed €200,000 in any 3-year period. In the case of certain loans, State Aid may arise by virtue of the discounted interest rate received by the business on SBCI loans, and if so, the business will be advised. It is important to note that the Aid is not the amount of the loan.

Note: Ulster Bank is obliged to share any information provided in connection with SBCI funding applications with the SBCI, primarily for the purposes of determining eligibility for the SBCI Scheme. It may also be shared with the SBCI’s funders (which includes the European Investment Bank, Kredietanstalt für Wiederaufbau and the Ireland Strategic Investment Fund). This will be done with regard to data protection legislation obligations, and full details are provided on our application form. If you decide to proceed with this application you consent to the transfer and use of your information in this manner. The SBCI may also correspond directly with you from time to time. For information on how the SBCI handles personal data, including information about your data protection rights (in respect of the SBCI) and the contact details of the SBCI’s data protection officer, please refer to the SBCI’s data protection statement which is available at: https://sbci.gov.ie/

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