SBCI DISCOUNTED LENDING PRODUCTS
The SBCI aims to deliver lower cost, long-term, innovative and accessible funding to independent Irish SMEs. It will do this by offering flexible products, through its On-Lending partners, tailored to the SME market.
SBCI Strategy, Product Program and Future Market Initiatives
The SBCI’s Initial Product Program is detailed below and is designed to reach the widest range of SMEs possible. The SBCI is working to get more financial institutions involved in the program and may introduce non-bank finance credit providers in 2015. The SBCI is also looking at new products that will seek to address more specific market failures.
The SBCI’s first suite of products is a ‘beginning’ – the SBCI will be flexible and adapt its new or existing products to meet the needs of SMEs, as its understanding of these develops.
Does your business qualify?
To avail of SBCI funding through On-Lenders, an SME qualifies if it meets each of the following criteria:
- The enterprise employs fewer than 250 employees
- The enterprise has an annual turnover not exceeding €50m, and/or an annual balance sheet total not exceeding €43m.
- The enterprise is an independent, autonomous entity (or, if part of a wider group of enterprises, the entire group must qualify as an SME).
- Less than 25% of capital/voting rights held by public bodies.
- The enterprise has a significant presence in Ireland.
Other conditions for qualification for SBCI funding are provided in each product page.