“Additional Borrower Eligibility Criteria” means that the Borrower under the Borrower Transaction covered by a Financing:
(a) has been deemed eligible to participate in the SBCI Scheme by the SBCI resulting in the Borrower being issued with a unique eligibility code by the SBCI which is verified by AIB; and
(b) (i) in respect of a Borrower Transaction for an amount of less than €250,000,has completed a standard application request (whether written or oral) provided by AIB which is in form and content satisfactory to the SBCI;
(ii) in respect of a Borrower Transaction for an amount of greater than or equal to €250,000, has provided a business plan to AIB which evidences that the purpose of the funds to be made available to that Borrower under the relevant Borrower Transaction falls within the purpose of the loan selected by the Borrower as detailed in the eligibility code letter issued to it by the SBCI.
“Borrower Eligibility Criteria” means that the Borrower under the Borrower Transaction covered by a Financing:
(a) is an SME or Small Mid-cap;
(b) is not an “undertaking in difficulty”* (within the meaning of the Commission Regulation (EU) No C(2014) 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty as amended, restated, supplemented and/or substituted from time to time);
(c) does not have business activities which consist of one or more of the activities listed under Restricted Sectors;
(d) is not delinquent or in default under any agreement with AIB or another financial institution to the extent that such delinquency or default would dissuade AIB (entirely at its discretion) from lending to that Borrower, pursuant to checks made in accordance with the AIB’s internal guidelines and credit and collection policy;
(e) is not established in a Non-Compliant Jurisdiction;
(f) is established in a member state of the EU;
(g) which if established in a member state of the EU other than Ireland, is operating in Ireland;
(h) shall not be engaged in any Illegal Activities;
(i) it, or any corporate entity connected with it (where “connected” has the meaning given to it in Section 10 of the Taxes Consolidation Act, 1997 (as amended)), is not active in any sector in Ireland outside the scope of the SBCI Scheme being any of the Restricted Sectors;
(j) has not received loans under the SBCI Scheme of more than €3,000,000 (which includes, for the avoidance of doubt, the proposed loan) in aggregate per Borrower;
(k) has not received, including under the applicable Financing, Aid in excess of what is permitted under applicable state aid regulation;
(l) is not bankrupt or being wound up or having its affairs administered by the courts;
(m) in the last 5 years has not entered into an arrangement with creditors, in the context of being bankrupt or wound-up or having its affairs administered by the courts; and
(n) has not been convicted of an offense or subject to a ruling concerning professional conduct, fraud, corruption, involvement in a criminal organisation, money laundering or any other illegal activity where such illegal activity is detrimental to the European Union’s financial interests.
 Delinquent means in arrears < 90 days (90 days or greater is therefore in default).
“Loan Eligibility Criteria” means the following criteria:
(a) the Borrower Transaction is entered into as a new Borrower Transaction with AIB during the Availability Period (provided that the refinancing of an existing transaction before the maturity date of such existing transaction shall not be eligible);
(b) financing is provided to Borrowers that are deemed to have met the Borrower Eligibility Criteria;
(c) the Borrower Transaction shall not be in the form of equity, a mezzanine loan, mezzanine bond, a subordinated debt transaction of a quasi-equity transaction;
(d) the investments supported by the financing provided under the Borrower Transaction shall be located in Ireland;
(e) the Borrower Transaction shall not have a scheduled maturity of less than 8 years or greater than 10 years
(f) the amount committed by AIB under the Borrower Transaction shall not be less than the Minimum Borrower Transaction Committed Amount;
(g) the Borrower Transaction is denominated in euro;
(h) amounts less than or equal to €500,000 made available under a Borrower Transaction are to be made on an unsecured basis
(i) amounts greater than €500,000 made available under a Borrower Transaction may be secured in line with usual security requirements sought by AIB
(j) the Borrower Transaction shall not finance artificial arrangements aimed at tax avoidance;
1. Illegal Economic Activities
Any production, trade or other activity, which is illegal under the laws or regulations of the home jurisdiction for such production, trade or activity (“Illegal Economic Activity”).
Human cloning for reproduction purposes is considered an Illegal Economic Activity.
2. Tobacco and Distilled Alcoholic Beverages
The production of and trade in tobacco and distilled alcoholic beverages and related products.
3. Production of and Trade in Weapons and Ammunition
The financing of the production of and trade in weapons and ammunition of any kind. This restriction does not apply to the extent such activities are part of or accessory to explicit European Union policies.
Casinos and equivalent enterprises.
5. IT Sector Restrictions
Research, development or technical applications relating to electronic data programs or solutions, which:
(a) aim specifically at:
(i) supporting any activity included in the Restricted Sectors referred to under 1. to 4 (inclusive) above;
(ii) internet gambling and online casinos; or
(b) are intended to enable to illegally:
(i) enter into electronic data networks; or
(ii) download electronic data.
6. Life Science Sector Restrictions
When providing support to the financing of the research, development or technical applications relating to:
(a) human cloning for research or therapeutic purposes; and
(b) Genetically Modified Organisms (“GMOs”),
the SBCI will require from AIB appropriate specific assurance on the control of legal, regulatory and ethical issues linked to such human cloning for research or therapeutic purposes and/or GMOs.
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* Undertaking in Difficulty Definition in Commission Regulation (EU) 651/2014 of 17 June 2014
18) ‘undertaking in difficulty’ means an undertaking in respect of which at least one of the following circumstances occurs:
(a) In the case of a limited liability company (other than an SME that has been in existence for less than three years or, for the purposes of eligibility for risk finance aid, an SME within 7 years from its first commercial sale that qualifies for risk finance investments following due diligence by the selected financial intermediary), where more than half of its subscribed share capital has disappeared as a result of accumulated losses. This is the case when deduction of accumulated losses from reserves (and all other elements generally considered as part of the own funds of the company) leads to a negative cumulative amount that exceeds half of the subscribed share capital. For the purposes of this provision, ‘limited liability company’ refers in particular to the types of company mentioned in Annex I of Directive 2013/34/EU and ‘share capital’ includes, where relevant, any share premium.
(b) In the case of a company where at least some members have unlimited liability for the debt of the company (other than an SME that has been in existence for less than three years or, for the purposes of eligibility for risk finance aid, an SME within 7 years from its first commercial sale that qualifies for risk finance investments following due diligence by the selected financial intermediary), where more than half of its capital as shown in the company accounts has disappeared as a result of accumulated losses. For the purposes of this provision, ‘a company where at least some members have unlimited liability for the debt of the company’ refers in particular to the types of company mentioned in Annex II of Directive 2013/34/EU.
(c) Where the undertaking is subject to collective insolvency proceedings or fulfils the criteria under its domestic law for being placed in collective insolvency proceedings at the request of its creditors.
(d) Where the undertaking has received rescue aid and has not yet reimbursed the loan or terminated the guarantee, or has received restructuring aid and is still subject to a restructuring plan.
(e) In the case of an undertaking that is not an SME, where, for the past two years:
(1) the undertaking's book debt to equity ratio has been greater than 7,5 and
(2) the undertaking's EBITDA interest coverage ratio has been below 1,0.
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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
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.