SBCI Covid Support | Business Banking | Ulster Bank

test  Loan amounts €10,000 – €1 million  

test  Term up to 5 years 6 months.

test  Loans unsecured up to €250,000  

test  Guarantee Premium applies       

test  Available for SME and Primary  Agriculture customers

The borrower contributes to the cost of the Scheme by paying a premium on the credit advanced, which in turn is passed on to the Minister for Business, Enterprise and Innovation by the finance provider. This premium is separate from and is in addition to the cost of the credit advanced. The premium rate that will apply will depend on the size of the business and the length of time for which the credit is being advanced.

(i) Working capital or

(ii) Investment requirement

• Micro, small and medium sized enterprises (SMEs), Primary Producers and Small MidCap enterprises that meet the eligibility criteria and are established in Ireland.

• The SME/Small mid-cap/Primary Producer be viable business and not in financial difficulty as at 31/12/2019.

• The SME/Small mid-cap/Primary Producer must declare it can return to viability in the future.

• SME/Small mid-cap/Primary Produce must declare that turnover/potential turnover/profit has or will  be reduced by a minimum of 15% due to the impact of COVID 19.

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.

• Extraction of crude petroleum

• Extraction of natural gas

• Support activities for petroleum and natural gas extraction

• Manufacture of tobacco products

• Manufacture of weapons and ammunition

• Manufacture of military fighting vehicles

• Construction of buildings

• Construction of residential and non-residential buildings

• Buying and selling of own real estate

• Gambling and betting activities

• Monetary intermediation

test  Loan amounts €25,000 – €3 million  

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

test  Loan terms ranging from 7 year to 10 years

test  Loans unsecured up to €500,000         

test  Available for SME and Primary  Agriculture customers

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

See further details of specific loan purposes here

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.