SBCI Products
In 2016, the SBCI expanded its initial product suite to include invoice financing, further helping to address the financing needs of SMEs which are provided through its on-lenders. Some of the key features of the SBCI products include:
- lower interest rates;
- minimum loan maturity of two years;
- maximum term of ten years; and
- loans available up to €5 million.
1 Investment and Working Capital Loans
SBCI investment loans and working capital loans are available to eligible SMEs through its on-lender partners.
2 Re-finance of Exiting Bank Loans
This SBCI loan product which can be for investment and working capital purposes, is available to eligible SMEs whose loan facilities originated with a bank which is exiting or has exited the Irish market, i.e. ACC Bank; Danske Bank; Lloyds/Bank of Scotland Ireland, Irish Nationwide/IBRC, Anglo Irish Bank/IBRC.
3 Agriculture Investment Loan
The SBCI’s agriculture investment loan product is available to eligible SMEs engaged in primary agricultural production or the processing or marketing of agricultural products. This product is available for investment purposes.
4 Leasing and Hire Purchase
Through its current non-bank on-lender partners, the SBCI provides hire purchase, contract hire and leasing loans available to eligible SMEs to finance cars, commercial vehicles and certain plant and machinery assets. These products typically provide terms of between two to six years.
5 Invoice Financing
The SBCI provides its invoice finance product to eligible SMEs through its on-lender partners. Invoice finance is a working capital facility which releases cash tied up in outstanding customer invoices which improves cash flow availability for SMEs.
6 Risk Sharing Products
The SBCI supports the provision of additional lending to SMEs through its role as operator and manager of the Credit Guarantee Scheme, and through its own guaranteed loan product, the Agriculture Cashflow Support Loan Scheme.