SBCI Brexit Loan | Business Banking

Does your business qualify?

SBCI and Ulster Bank supporting local enterprise.

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

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

Add your signposting title here… 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.

What is the SBCI? The SBCI is a new state body which is securing cheaper funding to lend to Irish Small to Medium Enterprises (SMEs) through partnerships with organisations like Ulster Bank.

Eligibility 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.

Ulster Bank / SBCI Brexit Loan

Providing funding support to enable your business get Brexit ready.

The SBCI Brexit Loan Scheme is offered in partnership with the Department of Enterprise, Trade and Employment (DETE), 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.

Product features

Loan amount of between €25,000 to €1,500,000 per eligible enterprise

Maximum interest rate of 4%

Loan term ranging from 1 year to 3 years

Optional interest-only repayments provided at the start of the loans

Loans can be used to fund innovation, change or adaption of the business to mitigate the impact of Brexit.

Loans less than €500,000 will be unsecured.

Approval of loans is subject to status and conditions.

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

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

What Brexit 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 Brexit Loan Scheme Business Plan, a template is provided on the SBCI Website.

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/