Future Growth Loan Scheme
Are you an SME or Small Midcap not involved in primary agriculture? If so click here
Are you an SME involved in Primary Agriculture i.e. a farmer? If so, click here
The Future Growth Loan Scheme is offered by the Strategic Banking Corporation of Ireland (SBCI) with the support of the Department of Business Enterprise and Innovation, 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).
Loan amounts from €50,000 to a maximum of €3,000,000 per applicant
Initial maximum loan interest rate of 4.5% for loans < €250,000 and 3.5% for loans >= €250,000. Variable interest rates are subject to change
Loan terms ranging from 8 to 10 years
Unsecured loans up to €500,000
Optional interest-only repayments available in certain circumstances
An “Applicant” is an SME or small Mid-Cap that applies for a loan under the FGLS. Applicants for loans greater than €250,000 must submit a business plan to the relevant Financial Institution.
Loans can be used for long term investment. Please see example case studies here
Applicants must choose one of the below loan purposes:
Investment in Machinery or Equipment
Investment in Research and Development
Investment in Business Expansion
Investment in Premises Improvement
Investment in Process Innovation
Investment in People and/or Systems
How to apply for a loan
The Applicant must first submit an Eligibility Application Form to the SBCI to check if it is eligible to apply.
If the SBCI determines that the Applicant is eligible it will confirm that to the Applicant in writing.
The Applicant must provide this eligibility confirmation letter to the relevant Financial Institution when applying for a loan.
If you would like assistance with submitting an application to the Future Growth Loan Scheme, and/or developing a Business Plan to support your application, please contact one of our offices to speak to a dedicated member of our Business Advisory Team.