SBCI Covid Support | Business Banking | Ulster Bank

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SBCI and Ulster Bank supporting local enterprise.

Find out more about our lending options

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Available to over 18s only. Security may be required. Lending criteria, terms and conditions apply. Specific business purposes and sectors only. Subject to availability.

At Ulster Bank we are dedicated to supporting businesses affected by COVID-19. As part of the measures to help you during this unprecedented time we are working together with the Strategic Banking Corporation of Ireland (SBCI) and the Department of Business, Enterprise and Innovation(DBEI) who are bringing a range of supports to help Irish businesses protect from and react to the COVID-19 pandemic.


The SBCI Future Growth Loan Scheme is available for businesses to support long term or strategic investment and capital expenditure to facilitate innovation and expansion.


The SBCI COVID-19 Working Capital Loan Scheme is now available for businesses that have working capital requirements as a result of the impact of COVID-19. In addition, the scheme is available to fund innovation, change or adaption of the business to mitigate the impact of COVID-19.

 

The COVID-19 Credit Guarantee scheme has been launched on the 07th September 2020 and is available to provide access to funding to support SME, Agri SMEs and Small Midcaps effected by COVID-19. The scheme will be open until the 31st December 2020.

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 fixed rate borrowers:

WARNING:  YOU MAY HAVE TO PAY CHARGES IF YOU REPAY EARLY, IN FULL OR IN PART, A FIXED-RATE CREDIT FACILITY.

COVID-19 Credit Guarantee Scheme

 

COVID-19 Credit Guarantee Scheme (CGS) is designed to facilitate SME access to credit facilities in order to assist a return to a more regular trading environment post Covid-19.    


Product Features

  Loan amounts €10,000 – €1 million  

 

  Term up to 5 years 6 months.

 

  Loans unsecured up to €250,000  

 

  Guarantee Premium applies       

 

  Available for SME and Primary  Agriculture customers

 

 

The borrower contributes to the cost of the Scheme by paying a premium on the credit advanced, which in turn is passed on to the Minister for Business, Enterprise and Innovation by the finance provider. This premium is separate from and is in addition to the cost of the credit advanced. The premium rate that will apply will depend on the size of the business and the length of time for which the credit is being advanced.

Loan Purpose

(i) Working capital or

 

(ii) Investment requirement

Who can Apply and Eligibility Requirements

  • Micro, small and medium sized enterprises (SMEs), Primary Producers and Small MidCap enterprises that meet the eligibility criteria and are established in Ireland.
 
  • The SME/Small mid-cap/Primary Producer be viable business and not in financial difficulty as at 31/12/2019.
  • The SME/Small mid-cap/Primary Producer must declare it can return to viability in the future.
  • SME/Small mid-cap/Primary Produce must declare that turnover/potential turnover/profit has or will  be reduced by a minimum of 15% due to the impact of COVID 19.

 

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.

Excluded Sectors

  • Extraction of crude petroleum
  • Extraction of natural gas
  • Support activities for petroleum and natural gas extraction
  • Manufacture of tobacco products
  • Manufacture of weapons and ammunition
  • Manufacture of military fighting vehicles
  • Construction of buildings
  • Construction of residential and non-residential buildings
  • Buying and selling of own real estate
  • Gambling and betting activities
  • Monetary intermediation
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The Scheme is available until 31 December 2020. Eligibility criteria apply.

The provision of the Scheme Guarantee does not remove any liability for the credit from the customer.

The COVID-19 Credit Guarantee Scheme has been developed by the Department of Business, Enterprise and Innovation (DBEI). The Strategic Banking Corporation (SBCI) has been appointed as Operators of the scheme.

SBCI COVID-19 Working Capital Loan Scheme

The COVID-19 Working Capital Loan Scheme is available for businesses who have working capital requirements as a result of the impact of COVID-19. In addition, the scheme is available to fund innovation, change or adaption of the business to mitigate the impact of COVID-19

How do I find out if my business is eligible for the SBCI COVID-19 Working Capital Loan Scheme?

To find out if you're eligible to apply for the SBCI COVID-19 Working Capital Loan Scheme please contact the SBCI to be assessed and complete an Eligibility Application

What specific information will I need to supply to Ulster Bank when I apply?

  SBCI Eligibility confirmation letter to be provided to Ulster Bank

  Provision of a Business Plan, a template is provided on the SBCI Website

SBCI Loan

Product Features

  Loan amounts €25,000 – €1.5 million.  

 

  Maximum interest rate of 4% fixed.

 

  Loan terms ranging from 1 year to 3 years.

 

  Loans unsecured up to €500,000.

 

  Available for SME only.

 

Loan Purpose

Loans can be used for:

  • Future working capital requirements,
  • To fund innovation, change or adaptation of the business to mitigate the impact of COVID-19.

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.

 

Apply Now

The Scheme operates from March 2020 to March 2021 or until the scheme has been fully subscribed. Eligibility criteria apply.

The SBCI COVID-19  Working Capital Scheme is offered in partnership with the Department of Business Enterprise and Innovation, the Department of Agriculture Food and the Marine and is supported by the InnovFin SME Guarantee Facility, with the financial backing of the European Union under Horizon 2020 Financial Instruments.

SBCI Future Growth Loan Scheme

The SBCI Future Growth Loan Scheme is available for businesses to support long term investment or strategic investment.

How do I find out if my business is eligible for the SBCI 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 and complete the Eligibility Application

What specific information will I need to supply to Ulster Bank when I apply?

  • SBCI Eligibility confirmation letter to be provided to Ulster Bank
  • Provision of a Business Plan for loan values >€250,000; a template is provided on the SBCI Website

Product Features

  Loan amounts €25,000 – €3 million  


  Maximum interest 4.5% for loans < €250,000 and 3.5% for loans > €250,000


  Loan terms ranging from 7 year to 10 years


  Loans unsecured up to €500,000         


  Available for SME and Primary  Agriculture customers

 

 

Loan Purpose

Loans can be used for long term investment for both Agri and SME sector.

See further details of specific loan purposes here

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.

Apply Now

The Scheme operates until 31/12/2022 or until the scheme has been fully subscribed. Eligibility criteria apply.

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)

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European Investment Fund

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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