- 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 108 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 108 monthly repayments of €2694.11. The total cost of credit would be €40,963.88 for this loan.