We have closed the SBCI COVID-19 Working Capital Loan Scheme to new applications.

  • If your business has been affected by Covid-19, consider the Covid-19 Credit Guarantee Scheme
We’ve partnered with the Strategic Banking Corporation of Ireland (SBCI) to bring you the SBCI Covid-19 Loan Scheme.
This Scheme provides competitively priced, flexible funding to businesses to address the impact of Covid-19.

Key features

  • Maximum interest rate of 4%, fixed for the term of the loan with no breakage costs.

    For example €25,000 over 3 years at 4% will have 36 monthly repayments of €737.97. The total cost of credit for the loan is €1,566.92.

  • Loan terms from 1 year to a maximum of 3 years, including any requirement to restructure.

  • Loans are available for amounts from €25,000 up to a maximum of €1,500,000 per business (including any previous SBCI Brexit Loans and SBCI Covid-19 Working Capital Loans).

  • 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. If you avail of an Interest Only option at the start of your loan, your total cost of credit will be higher as a result.

    For example €25,000 over 3 years at 4% with an interest only option will have 12 monthly repayments of €83.09 followed by 24 monthly repayments of €1,085.62. The total cost of credit for the loan is €2,051.96. 

  • Loans can be used to:
    • Fund working capital needs, and;
    • Fund innovation, change or adaption of the business to mitigate the impact of Covid-19.

SBCI Covid-19 Working Capital Loan Scheme at a glance

  • Max interest rate of 4.00% fixed per annum
  • Amount available from €25,000 up to €1,500,000
  • Terms from 1 to 3 years

Useful information about eligibility

We're here to help

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 0818 47 88 33, Mon-Fri 9am-5pm with your Customer Eligibility Code to begin your loan application.

Other resources

Credit Guarantee Scheme Information Booklet

Helpful Guide to Applying for Business Finance

Government Credit Guarantee Scheme FAQs

T&C’s Governing Business Lending

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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 COVID-19 Working Capital facility early.
The SBCI COVID-19 Working Capital 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 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.
You also need to be aware that you will need to keep and be able to produce all documents relating to the SBCI COVID-19 Working Capital 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.