SBCI Brexit Loan Scheme

In AIB we are actively supporting our customers to prepare for Brexit.

That’s why we are partnering with the Strategic Banking Corporation of Ireland (SBCI) in the new €300m SBCI Brexit Loan Scheme.

This Scheme provides competitively priced, flexible funding to businesses to address the challenges posed by Brexit.

Customers can contact the SBCI who will assess them for eligibility for the Scheme. We are working towards accepting applications for this loan scheme in June 2018. Check out the SBCI Website for full information on the scheme and how to start the process.

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    Key features of the loans:

    • Competitive interest rate, fixed for the term of the loan with no breakage costs
    • Loan terms from 1 to 3 years
    • Loans are available for amounts from €25,000 up to a maximum of €1,500,000 per business
    • No security will be required for loans up to €500,000
    • An interest only repayment option may be available at the start of a loan, subject to normal lending criteria
    • Loans can be used to:
      • Fund working capital needs
      • Fund innovation, change or adaption of the business to mitigate the impact of Brexit

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    Who can apply:

    • Micro, small and medium sized enterprises (SMEs) and Small MidCap enterprises that meet the SBCI 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
    • SBCI Brexit Support Loans are available to viable businesses who are Brexit impacted and meet the Scheme criteria which is detailed on the SBCI website. 

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    How to apply:

    1. Contact the SBCI directly to complete their eligibility application form
    2. If you are eligible, the SBCI will issue you with a letter of confirmation with a reference number which you will provide to us when we process your loan application. The reference number will be valid for four months
    3. Contact your Relationship Manager or call 1890 47 88 33 to discuss your business needs
    4. The SBCI require a detailed business plan to be provided along with your application to AIB

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    Some Scheme exclusions apply:

    • Businesses involved in primary agriculture and/or aquaculture sector i.e fisheries
    • Businesses in financial difficulty
    • Is bankrupt or being wound up or having its affairs administered by courts
    • State Aid implications may impact the amount you can borrow under this Scheme
    • Details of all exclusions and State Aid rules can be found on the SBCI website

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When are the SBCI Brexit Loans available?

- Applications for loan eligibility can be made directly to the SBCI, full information available on the SBCI Website

- The Scheme will be open until March 2020 or until it has been fully subscribed.

AIB will be here for you to support all of your Brexit needs, contact your Relationship Manager, Branch or call 1890 47 88 33 to discuss the most suitable options to support your business.

Other Resources:

Visit AIB’s dedicated Brexit Centre for the AIB Brexit Sentiment Index, economic analysis and featured articles.

 


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Important/ Regulatory Information

Warning: The entire amount you have borrowed will still be outstanding at the end of the interest-only period.

Warning: You may have to pay charges if you repay early, in full or in part, a fixed-rate credit facility.

AIB will not apply charges if you repay an SBCI Brexit Loan early.

Lending Criteria, terms and conditions apply. Credit facilities are subject to repayment capacity and financial status and are not available to persons under 18 years of age. Security may be required.

The Brexit Loan Scheme is being offered by the Strategic Banking Corporation of Ireland in partnership with the Department of Business, Enterprise and Innovation, the Department of Agriculture 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 and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.

It is important to be aware that as part of the application process AIB is obliged to share information about successful applicants with the SBCI and will also be shared with EU Bodies and State Bodies. This will be done with regard to obligations under data protection legislation. You can read our Data Protection – Use of Information Notice by visiting our website or contact us directly for more information on how we use your information.

If you provide false information in relation to your eligibility for the Scheme or the amount of State Aid received, AIB are obliged to share this information with the SBCI who may take further action. This may also result in the termination of your loan facility and a demand for early repayment in full.​