SBCI Future Growth Loan Scheme

Eligibility Criteria

“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[1] 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.  

[1] Delinquent means in arrears < 90 days (90 days or greater is therefore in default).