SBCI Future Growth Loan Scheme

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In AIB we are actively supporting our customers in the development, growth and improvement of their business. That’s why we are partnering with the Strategic Banking Corporation of Ireland (SBCI) in providing our customers with the SBCI Future Growth Loan Scheme.

This Scheme provides competitively priced, flexible funding for SMEs and Agri customers looking to invest in and grow their Business. The SBCI Future Growth Loan Scheme will be available on a first come first served basis until 13th June 2022, or earlier, if our allocation of the scheme has been fully subscribed.

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    Key features of the loan:

    • Loans provided under the SBCI Future Growth Loan Scheme are available to 
      • eligible SMEs for a long term investment period of 8-10 years
      • eligible Agri businesses for a long term investment period of 8-10 years in tangible or intangible assets on agricultural holdings linked to primary agricultural production
    • Loan Amounts 
      • For business customers (SMEs) loans are available for amounts from €100,000 up to a maximum of €3,000,000
      • For Agri customers loans are available for amounts from €50,000 up to a maximum of €3,000,000
    • Loan terms from 8 years to a maximum of 10 years, including any requirement to restructure
    • The SBCI Variable Interest Rate plus:
      • a maximum fixed margin of 4.44%* on facilities up to and including €249,999
      • a maximum fixed margin of 3.44%* on facilities of €250,000 and above
    • Security is not required for amounts up to €500,000
    • Interest only repayments are available for up to a maximum of 2 years at the start of the loan term (subject to credit approval).
    • Repayment structures that have a final bullet repayment are not permitted.
       

    * An SBCI Future Growth Loan of €100,000 over 9 years at 4.44% will have monthly repayments of €1124.32. The total cost of credit for the loan is €21,426.56

    * An SBCI Future Growth Loan of €250k over 9 years at 3.44% will have monthly repayments of €2694.11. The total cost of credit would be €40,963.88 for this loan.

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    Who can apply:

    To apply for an SBCI Future Growth loan you must be a viable micro, small or medium sized enterprise (SME) or Small Mid-Cap enterprises.

    • An SME is defined by the Standard EU definition [Commission Regulation 2003/361/EC] as an enterprise that:
      • has fewer than 250 employees
      • has a turnover of €50 million or less (or €43 million or less on their balance sheet)
      • is independent and autonomous i.e. not part of a wider group of enterprises
      • has 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

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    Who cannot apply:

    SMEs/Small Midcap enterprises that:

    • are an undertaking in difficulty;
    • operate in one or more Restricted Sectors
    • are delinquent or in default under any agreement with AIB or another financial institution;
    • are established in a Non-Compliant Jurisdiction;
    • are bankrupt or being wound up or having its affairs administered by the courts;
    • in the last 5 years have entered into an arrangement with creditors, in the context of being bankrupt or wound-up or having its affairs administered by the courts

    The full eligibility criteria for who cannot apply can be found here.

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    Eligibility Criteria

    To be eligible, the purpose of the loan must be for one of the following;

    For SME applications:

    • 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

    For Agri applications:

    • Improvement of the overall performance and sustainability of the agricultural holding
    • Improvement of the natural environment, hygiene conditions or animal welfare standards, provided the investment goes beyond EU standards
    • Creation and improvement of infrastructure related to the development, adaptation and modernisation of agriculture
    • Achievement of agri-environmental-climate objectives
    • Restoration of production potential damaged by natural disasters, adverse climatic events, animal diseases, plant pests and the prevention of damages caused by those events

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    How to apply:

    • Complete an Eligibility Application Form and submit to the SBCI – online form and full details can be found on the SBCI Website
    • Eligible SMEs will receive a confirmation letter from the SBCI with a Customer Eligibility Code (which is valid for 6 months)
    • Contact your Branch, Relationship Manager or call Direct Business Advisors on 1890 47 88 33, Mon-Fri 8am-9pm with your Customer Eligibility Code to begin your loan application.

    Note: Confirmation of scheme eligibility does not guarantee credit approval; Customers will be required to submit a standard business loan application to the Bank.

    The SBCI require a detailed business plan to be provided along with your loan application to AIB for facilities of €250,000 and above.

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Contact your Branch, Relationship Manager or call Direct Business Advisors on 1890 47 88 33, Mon-Fri 8am-9pm with your Customer Eligibility Code to begin your loan application.
 

European Investment Fund
SBCI
European Commission

Important/ Regulatory Information

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

Warning: the cost of your repayment may increase


AIB will not apply charges if you repay an 
SBCI Future Growth Loan Scheme early.
 

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)

It is important to be aware that AIB is obliged to share personal information about successful applicants with the SBCI and this information 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.

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.

For more information and guidelines on how the European Investment Fund handles the personal data of Borrowers and applicants for credit, please refer to the relevant data protection statement, or EIF Data Protection Statment Form.

You also need to be aware that you will need to keep and be able to produce all documents relating to the SBCI Future Growth Loan Scheme for a period of 7 years from the end of your loan.

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.​

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.