A new, strategic SME funding company, the SBCI’s goal is to ensure access to flexible funding for Irish SMEs by facilitating the provision of:
All of these elements create a more competitive and dynamic environment for SME funding. The SBCI is a vital new part of the country’s financial architecture. By taking a fresh approach to funding SMEs in Ireland, the long-term potential of the sector to drive economic growth and job creation will be actively supported.
The funding will be made available to SMEs through both bank and non-bank specialist on-lenders.
The release of long-term funds by promotional (or state-backed) financial institutions, through frontline (or traditional) finance providers, is a successful and effective model for funding SMEs throughout Europe.
The SBCI is currently working with non-bank financial institutions (such as leasing and invoice discounting providers) to develop alternative products for the Irish SME sector in order to deliver choice and competition.
The SBCI’s initial funding partners are:
These partners are providing long-term funding at attractive rates to the SBCI to support Irish SMEs.