- SBCI

Supporting economic development in Ireland by driving increased access to finance

The SBCI has published its 2021 Year-end Statement.

Key information:

During 2021 the SBCI delivered €819m to 10,012 Irish SMEs through its risk-sharing and liquidity operations. Since it commenced operations in March 2015, the SBCI has supported 46,000 liquidity and guarantee facilities totalling €2.8bn.
The ongoing impact of the Covid-19 pandemic combined with the continuing uncertainty surrounding Brexit have contributed to 2021 being one of the most challenging years for SMEs in Ireland since the financial crisis.
2021 highlights included the extension of the Government’s €2bn Covid-19 Credit Guarantee Scheme (CCGS) until the end of June 2022 and the launch of the Brexit Impact Loan Scheme (BILS).
At December 2021 CCGS has become the SBCI’s most widely used scheme, with more than 8,000 loans drawn.
During 2021 €147m of Leasing, Hire Purchase and Invoice Financing facilities were provided by the SBCI non-bank partners to more than 3,000 SMEs.
Very broad geographical spread of SBCI loans across all regions during 2021, with North-East at 5% and East, including Dublin, at 29% (loan numbers).
Strong sectoral spread. Agriculture continues to be the biggest sector at 25%, with Wholesale & Retail at 15%, Construction at 15%, Manufacturing at 8% and Accommodation & Food Services at 8%.
91% of loans used by SMEs to invest in growing the business and 9% for working capital.
A total of 35 on-lenders, including banks, non-banks and credit unions, have partnered with the SBCI and offer SBCI SME supports.

Comment by June Butler, SBCI CEO:

“The SBCI is delivering on its mandate to increase the availability of finance, drive competition and increase choice in the Irish SME lending market. Against the backdrop of the Covid-19 pandemic and Brexit, the SBCI achieved strong new lending in 2021, demonstrating the positive impact of the SBCI’s lower cost funding and guarantee schemes on the Irish SME finance market.
The SBCI’s 2021 year-end statement updates the strategic direction for the SBCI for the coming years, pointing out our pivotal role in supporting the transition to sustainable business practices and as a conduit for the effective use of EU SME supports relevant to Irish businesses”.