Coronavirus | Ulster Bank

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Coronavirus (COVID-19)

We're here to support your business

An update from Ulster Bank

We understand that these are uncertain times, and many of you may be worried. We want to assure you that looking after our customers and colleagues is our number one priority, and we are closely following advice from Government and the relevant authorities to make sure that we are prepared.

If you’re concerned about being affected financially or being unable to get to the bank due to coronavirus (COVID-19), we’re here to help. We will use this page to let you know of what help and support is available, and to give you updates on our services.

 

Short-term financial support

Short-term new or increased Business Overdraft for 6 months

  Interest rates can be viewed here.  Interest is calculated daily and charged to your account quarterly 

 

  No arrangement fee applies

 

  Security may be required

 

Please note, we are prioritising all Covid-19 related applications and on receipt of a fully completed application form we will endeavour to be in contact within 48 hours with our decision or, if necessary, to request further information

 

For an Overdraft under €150,000 

Apply for an overdraft under €150,000

For an Overdraft more than €150,000 

Apply for an overdraft greater than €150,000

Capital Repayment Holiday on your loan for 3 months

During the repayment break, interest will continue to accrue and be payable on your Credit Facilities and charged quarterly in accordance with the existing terms and conditions which currently apply to your Credit Facilities. 

 

At the end of the capital repayment holiday period your normal monthly repayment may be recalculated which means that your monthly repayment will be greater than it is now or alternatively the term of the Credit Facilities may be extended.  If you choose to extend the term of your Credit Facilities the amount of interest payable and amount owing on the related Credit Facility will increase.

 

The options above will be discussed in detail when we contact you in relation to your application.

 

Apply Online Today

If you need to contact your Business team or Relationship Manager please call us on 1850 211 690.  Alternatively you could email us here to request a call back.

Please note that if you decide to call us, there will be a higher than normal call wait time, and calls may be recorded for training and monitoring purposes.  

Manage your business banking online 

You can complete your online banking on Anytime Internet Banking, mobile app or Bankline*

 

*Criteria applies.

Frequently Asked Questions

Commercial Banking Customers

What support are you able to offer Business customers who may be struggling financially?

As the impact of the Coronavirus outbreak begins to directly impact more businesses, we have announced a €500m Working Capital Support fund for SMEs across Ireland.

We recognise the importance of supporting businesses through this period, as well as ongoing practical advice. We also understand that it’s not just Business customers that may feel short term disruption to their finances as a result of this outbreak, and are committed to helping our personal customers through this period too. The measures in place include:

 

- €500m of Working Capital Support focused on meeting the needs of SMEs

 

- Temporary emergency loans with no arrangement fees

 

- Capital Repayment Holiday on variable rate lending or a realignment of payments for customers who are seeing short term liquidity pressure

 

- Short term overdrafts or an increase/extension of existing overdraft facilities

 

- Ulster Bank’s team of Relationship Managers are proactively speaking to business customers offering help and support as they form their plans to mitigate the impact of Coronavirus

 

- Specific sectoral insight and advice from dedicated Sector Banker Specialists

 

Security may be required. Product fees may apply (except where stated otherwise). Lending criteria, terms and conditions apply.

My supply chain and/or cash flow has been impacted.  What are you able to offer?

Our nationwide network of dedicated Relationship Managers is on hand to help our customers. As part of the support package noted above that we’re providing, we have teams ready to help our customers manage delay and disruption to their supply chains. Possible solutions include:

 

- Asset finance solutions could help your business by providing tailored funding solutions so your business can release working capital

 

- Trade finance instruments; these provide credit lines for the issuance of Guarantees and Letters of Credit which may be required by new suppliers or as an alternative to advance payments

 

Security and / or guarantees and indemnities may be required. Product fees may apply. Lending criteria, terms and conditions apply.

 

 

What are your plans to ensure continuity of supply?

We are monitoring the potential impact of Coronavirus for our customers, colleagues and stakeholders to ensure we can support them appropriately through any period of disruption.

 

We have a strong track record in working with our customers who are affected by disruption outside their control. We have operational resilience plans in place that reflect guidance from Public Health Authorities to ensure we can continue to serve our customers.

Government supports available

The SBCI Covid-19 Working Capital Loan Scheme is available from Ulster Bank to  support Irish SMEs and their businesses impacted by Covid-19.  Speak to your local Relationship Manager or Business Unit or visit sbci.gov.ie for more information.

Department of Business, Enterprise and Innovation: Business Continuity Planning Checklist of preparatory actions in responding to COVID-19 (PDF)

Department of Business, Enterprise and Innovation: Minister Humphreys announces supports for businesses impacted by COVID-19



We're here to support your business

Call your Business team or Relationship Manager on 1850 211 690

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