European Investment Bank Loan Scheme
Ulster Bank Ireland Limited has entered into an agreement with the European Investment Bank (EIB), which enables us to offer a preferential price to qualifying customers who are seeking loan finance for an eligible purpose. This means that your borrowing costs will be reduced, thus saving you money during the first 5 years of the term of the loan.
We are able to offer a discount from our usual pricing for Business Term Loan Borrowing*.
Features
- Loan amounts €30,000 to €2,000,000 (although higher amounts can be considered)
- Minimum term: 2 years
- No maximum term, but EIB benefit will last for 5 years.
- Capital Repayment Holidays available (subject to credit approval)
- Variable rate lending only
- Scheme loans enjoy all the benefits of the conventional Business Term Loan
Key Eligibility Criteria
Permitted loan purposes:
- Purchase of commercial land/property from which to trade (except farmland) in limited circumstances
- Development of property/land already owned, from which to trade
- Purchase of other tangible assets, such as plant, machinery and equipment
- Non-tangible assets including permanent increases to working capital
- Change in business ownership where the consideration does not exceed €1m. The change must be as a result of succession planning or a staff-related transaction; general acquisition (e.g. competitor buy-out) of businesses is not eligible for EIB funding. Both the buyer and the entity sold must be small and medium sized enterprises.
Non permitted loan purposes:
- Property investment (i.e. not owner-occupied)
- Property development with no intention of using/trading from the property post-development
- Purchase of farmland
- Refinancing of existing borrowing
EIB Loan Scheme support is not available to the following sectors:
- Property/real estate development/investment
- Gambling & provision of related equipment
- Activities which relate to environmental impacts that are not largely mitigated
- Tobacco manufacturing, processing and distribution
- Production of weapons and ammunition
- Any sector considered by the European Investment Bank (EIB) to be ethically or morally controversial
Please contact your Relationship Manager or visit your local branch to discuss if your Business qualifies for funding supported by this EIB "Loans for SMEs" scheme.
* Normal lending criteria, terms & conditions apply. Security may be required. Over 18s only.
Ulster Bank Ireland Limited. A private company limited by shares, trading as Ulster Bank, Ulster Bank Group and Banc Uladh.
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