SBCI Covid Support | Business Banking | Ulster Bank

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Important Notice about Closure to New Business:

Update on Ulster Bank Ireland DAC presence in the Republic of Ireland

We remain open for all existing business customers’ needs and requirements only.

For more information please click here.

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Does your business qualify?

SBCI and Ulster Bank supporting local enterprise.

Find out more about our lending options

Existing Customers -
Apply Now

Available to over 18s only. Security may be required. Lending criteria, terms and conditions apply. Specific business purposes and sectors only. Subject to availability.  Available to existing customers only.

At Ulster Bank we are dedicated to supporting businesses affected by COVID-19. As part of the measures to help you during this unprecedented time we are working together with the Strategic Banking Corporation of Ireland (SBCI) and the Department of Enterprise, Trade and Employment (DETE) who are bringing a range of supports to help Irish businesses protect from and react to the COVID-19 pandemic.


The SBCI Future Growth Loan Scheme is available for businesses to support long term or strategic investment and capital expenditure to facilitate innovation and expansion.

For interest only borrowers:

WARNING: THE ENTIRE AMOUNT THAT YOU HAVE BORROWED WILL STILL BE OUTSTANDING AT THE END OF THE INTEREST-ONLY PERIOD.

 

 

For fixed rate borrowers:

WARNING:  YOU MAY HAVE TO PAY CHARGES IF YOU REPAY EARLY, IN FULL OR IN PART, A FIXED-RATE CREDIT FACILITY.

SBCI Future Growth Loan Scheme

The SBCI Future Growth Loan Scheme is currently fully subscribed and is closed for new applications

 

The SBCI Future Growth Loan Scheme is available for businesses to support long term investment or strategic investment.

How do I find out if my business is eligible for the SBCI Future Growth Loan Scheme?

To find out if you are eligible to apply for the SBCI Future Growth Loan Scheme please contact the SBCI to be assessed and complete the Eligibility Application

What specific information will I need to supply to Ulster Bank when I apply?

  • SBCI Eligibility confirmation letter to be provided to Ulster Bank
  • Provision of a Business Plan for loan values >€250,000; a template is provided on the SBCI Website

Product Features

  Loan amounts €25,000 – €3 million  


  Maximum interest 4.5% for loans < €250,000 and 3.5% for loans > €250,000


  Loan terms ranging from 7 year to 10 years


  Loans unsecured up to €500,000         


  Available for SME and Primary  Agriculture customers

 

 

Loan Purpose

Loans can be used for long term investment for both Agri and SME sector.

See further details of specific loan purposes here

Who can apply

Micro, small and medium sized enterprises (SMEs) and Small MidCap enterprises that meet the eligibility criteria.

 

SMEs are defined by the Standard EU definition [Commission Regulation 2003/361/EC] as enterprises that:

 

 Have fewer than 250 employees.

 

 Have a turnover of €50 million or less (or €43 million or less on their balance sheet).

 

 Are independent and autonomous i.e. not part of a wider group of enterprises.

 

 Have 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.

The Scheme operates until 31/12/2022 or until the scheme has been fully subscribed. Eligibility criteria apply.

The Future Growth Loan Scheme is offered by the Strategic Banking Corporation of Ireland (SBCI) with the support of the Department of Enterprise, Trade and Employment (DETE), 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)

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European Investment Fund

Note: Ulster Bank is obliged to share any information provided in connection with SBCI funding applications with the SBCI, primarily for the purposes of determining eligibility for the SBCI Scheme. It may also be shared with the SBCI’s funders (which includes the European Investment Bank, Kredietanstalt für Wiederaufbau and the Ireland Strategic Investment Fund). This will be done with regard to data protection legislation obligations, and full details are provided on our application form. If you decide to proceed with this application you consent to the transfer and use of your information in this manner. The SBCI may also correspond directly with you from time to time. 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 which is available at: https://sbci.gov.ie/

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