Useful information about eligibility

• 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.
• Who cannot apply
  SMEs/Small Midcap enterprises that cannot apply:
   

  • 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 five 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.
• Eligibility criteria
  To be eligible, the purpose of the loan must be for one of the following;

   

  For SME applications:

  1. Investment in Machinery or Equipment
  2. Investment in Research and Development
  3. Investment in Business Expansion
  4. Investment in Premises Improvement
  5. Investment in Process Innovation
  6. Investment in People and/or Systems

   

  For Agri applications:

  1. Improvement of the overall performance and sustainability of the agricultural holding
  2. Improvement of the natural environment, hygiene conditions or animal welfare standards, provided the investment goes beyond EU standards
  3. Creation and improvement of infrastructure related to the development, adaptation and modernisation of agriculture
  4. Achievement of agri-environmental-climate objectives
  5. Restoration of production potential damaged by natural disasters, adverse climatic events, animal diseases, plant pests and the prevention of damages caused by those events
• 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 0818 47 88 33, Mon-Fri 9am-5pm 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.
• State aid
  1. Interest rate may be classified as State Aid.
   

  2. Customers are responsible for ensuring that the requirements relating to State Aid are strictly complied with.
   

  3. The relevant State Aid legislation may include:
   

  • EU Regulation No 1407/2013 of 18 December 2013 on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to de minimis aid
  • Agriculture Block Exemption Regulation (Commission Regulation (EU) No 702/2014)
  • The General Block Exemption Regulation (Commission Regulation (EU) No 651/2014)

   

  4. Loan amounts and term are dependent upon State Aid thresholds.

   

  5. Borrowing under this scheme will give rise to State Aid benefit, and there may therefore be a restriction on the loan amount/loan term that can be availed of by the borrower. 

   

  6. It is important to note that the State Aid is not the amount of the loan.

   

  7. Full details can be found on the SBCI Website.