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Brexit Loan Scheme

A scheme to fund working capital requirements or to fund innovation, change or adaptation of the business to mitigate the impact of Brexit.

The SBCI Brexit Loan Scheme is offered in partnership with the Department of Business, Enterprise and Innovation and the Department of Agriculture, Food and the Marine, and is supported by the InnovFin SME Guarantee Facility with the financial backing of the European Union under Horizon 2020 Financial Instruments.

The loans are available through AIB, Bank of Ireland and Ulster Bank. Approval of loans are subject to the bank’s own credit policies and procedures.

Step 1 – The applicant must first submit an Eligibility Application Form to the SBCI to check if it is eligible for the scheme. If the SBCI determines that the applicant is eligible, the applicant will be notified in writing and will be supplied with an eligibility code.

Step 2 – The applicant must provide this eligibility confirmation letter/code to the relevant financial institution when applying for a loan.

Step 3 – The applicant must submit their credit application with the eligible code to the following on-lenders: AIB, Bank of Ireland and Ulster Bank.

The scheme operates from March 2018 to March 2021 or until the scheme has been fully subscribed.

For more information on applications click here

  • Loan amounts of between €25,000 to €1.5m per eligible enterprise (see the State Aid section below for further details)
  • Maximum interest rate of 4%
  • Loan terms range from one year to three years
  • Loans unsecured up to €500,000
  • Optional interest-only repayments may be available at the start of the loans
  • The loan amount and term is dependent on the loan purpose

  • Future working capital requirements
  • To fund innovation, change or adaptation of the business to mitigate the impact of Brexit

  • Refinance of undertakings in financial difficulties
  • Refinance of existing debt (e.g. term loans/leases/hire purchase etc)

Viable micro-, small and medium-sized enterprises (SMEs) and small mid-cap enterprises that meet the eligibility criteria.

SMEs are defined by the standard EU definition [Commission Regulation 2003/361/EC] as enterprises that:

  • have fewer than 250 employees
  • have a turnover of €50 million or less (or €43 million or less on their balance sheet)
  • are independent and autonomous, i.e. not part of a wider group of enterprises
  • have less than 25% of their capital held by public bodies
  • is established and operating in the Republic of Ireland

A small mid-cap is an enterprise that is not an SME but has fewer than 500 employees.

SMEs / small mid-caps that:

  • are involved in the primary agriculture and/or aquaculture sector
  • are in financial difficulty (excluding cashflow pressures caused by Brexit impact)
  • are bankrupt or being wound-up or having its affairs administered by courts
  • in the last five years has entered in to an arrangement with creditors, in the context of being bankrupt or wound-up or having its affairs administered by the courts
  • are convicted of an offence concerning professional misconduct by judgement, fraud, corruption, involvement in a criminal organisation, money laundering or any other illegal activity where such illegal activity is detrimental to the European Union’s financial interests

SMEs/small mid-caps must satisfy one of the Brexit criteria and one of the innovation criteria:

Brexit Criteria

1. Export products, services or raw materials to the UK (including Northern Ireland) equate to at least 15% of business turnover.

2. Import products, services or raw materials from the UK (including Northern Ireland) equate to at least 15% of business turnover.

3. The combined exposure (of 1 and 2 above) equates to at least 15% of business turnover.

4. The business is indirectly exposed to the UK (including Northern Ireland), i.e. transacts products, services or raw materials with an enterprise that is directly exposed to the UK (including Northern Ireland) equating to at least 15% of turnover.

Innovation Criteria

Please note that an up-to-date business plan will be required to be provided to bank(s) in all cases when applying for an SBCI Brexit Scheme Loan.

The other documents detailed in No. 3, 4, 5, 6, 7, 8, 10, 11 will be required to be provided to the SBCI as part of the Eligibility Application Form.

1. At least 80% of the loan will be spent on research and innovation activities with the remainder on costs necessary to enable such activities.

Evidence required from applicant: The business plan given to the finance provider must reflect the details of the expenditures and activities to be undertaken.

2. You intend to enter a new product or geographical market, and the required investment is higher than 50% of average annual turnover in the preceding five years.

Evidence required from applicant: The business plan given to the finance provider must reflect details of the expenditures.

3. You will have registered at least one technology right in the last 24 months and the purpose of the loan is to enable use of this technology right.

Evidence required from applicant: Evidence of technology right, eg patent, utility model, design right, protection certificates.

4. You are an SME and research and innovation costs represent at least 10% of total operating costs in at least one of the last three years preceding this loan application, or in the case where there is no financial history, as per current financial statements.

Evidence required from applicant: Costs to be certified in a letter by an accountant practising in the Republic of Ireland.

5. You are a small mid-cap and research and innovation costs represent either:

- at least 15% of total operating costs in at least one of the three years preceding this loan application, or

- at least 10% per year of total operating costs in the three years preceding this loan application.

Evidence required from applicant: Costs to be certified in a letter by an accountant practising in the Republic of Ireland.

6. You have been awarded a research and development or innovation prize by an EU institution or EU body over the last 24 months.

Evidence required from applicant: Appropriate evidence of prize.

7. You have received a grant, loan or guarantee from a European research and innovation scheme (e.g. Horizon 2020 or FP7) or regional/national research or innovation support scheme in the last three years, and are confirming that the scheme loan is not covering the same expense.

Evidence required from applicant: Appropriate evidence of the grant, loan or guarantee.

8. You are an early-stage SME and have received an investment over the last 24 months from a venture capital investor, business angel.

Evidence required from applicant: Appropriate evidence of the investment to be provided.

9. You intend to use the loan to invest in producing, developing or implementing new or substantially improved products, processes or services or production or delivery methods (including business models) that are innovative, and where there is a risk of technological, industrial or business failure as evidenced by an external expert.

Evidence required from applicant: The business plan must demonstrate those risks of failure and be evaluated by an external expert, e.g. an accountant, engineer, the finance provider.

10. You are a “fast-growing enterprise“ operating for less than 12 years with an average annualised employee or turnover growth greater than 20% a year, over a three-year period and with ten or more employees at the beginning of that period.

Evidence required from applicant: Evidence to be certified by an accountant practising in the Republic of Ireland.

11. You are operating in a market for less than seven years and research and innovation costs represent at least 5% of total operating costs in at least one of the three years preceding the loan application or in the case of an enterprise (and particularly a start-up) without any financial history, according to current financial statements.

Evidence required from applicant: Costs to be certified in a letter by an accountant practising in Republic of Ireland.

State aid is defined as any aid granted by a member state or through state resources (any state body, agency or department). State aid incurred is not equal to the amount of the loans. See Regulations for further details.

Loans in this scheme are subject to the de minimis State aid threshold of €200,000 per undertaking received in the last three-year fiscal period, i.e. the current year and the previous two years. The total amount of de minimis aid given to a single recipient performing road freight transport for hire or reward cannot exceed €100,000 over a three-year fiscal period.

If an enterprise has received State aid during this period it may not be able to avail of the maximum loan amount of €1,500,000 but may be able to avail of a lower loan level. For example, if an undertaking has received a grant of €160,000 during the preceding three-year fiscal period and then applies for a three-year loan of €700,000 under the scheme, it would incur an amount of €44,800 of State aid thereby exceeding the €200,000 State aid threshold. Options for the undertaking would be to reduce either the amount or the term of the loan being sought. To identify the amount of State aid incurred for each loan amount and term, see the State Aid Matrix here.

The information provided by the applicants will be shared the by SBCI with its authorised agents and the Department of Business Enterprise and Innovation & the Department of Agriculture, Food and the Marine.

Under EU Regulations, the European Investment Fund will publish certain information subject to the applicant’s consent.

You must provide a separate business plan when applying for a loan under the Brexit Loan Scheme. The requirement for a business plan under the scheme is to assist you in reviewing your business and to plan for Brexit and future business strategies.

The template below sets out the suggested headings to be used in the preparation of your business plan and the content. The level of detail will be determined by the complexity of your business, the level of finance being sought and the finance provider’s prior knowledge of you and your business. Complex businesses with multiple products and outlets would require more detailed plans than less complex businesses and where the applicant is well known to the financial provider.

To assist in determining the level of detail that you should include, the headings have been presented in the form of core and optional sections with the core sections set out in bold type. The core sections must be completed for loans <€150k. All sections should be completed for loans >€150k.

1. Executive summary

  • Outline the amount of the loan being requested and its purpose. The purpose of the loan must be ‘Brexit’ related.
  • Provide details on how the loan will be used help your business prepare for Brexit. If you indicated in the eligibility assessment, that one the following innovation criteria applies, these details should also be included in this section:
  1. At least 80% of the scheme loan will be spent on research and innovation activities with the remainder on costs necessary to enable such activities. Detail the expenditures and activities to be undertaken that meet this criterion.
  2. You intend to enter a new product or geographical market, and the required investment is higher than 50% of average annual turnover in the preceding five years. Detail the expenditures and activities to be undertaken that meet this criterion.
  3. You intend to use the loan to invest in producing, developing or implementing new or substantially improved products, processes or services or production or delivery methods (including business models) that are innovative, and where there is a risk of technological, industrial or business failure as evidenced by an external expert. Detail the risks of failure and the expenditures and activities to be undertaken that meet this criterion.

2. The business

Brief description of the business

History of the business, key milestones. Goals and overall strategy of the business.

3. Products, services, customers marketing

Describe the key products or services

Describe each product in terms of life cycle, target customers, geographical split of sales, distribution channels, marketing.

4. Staff details

Set out employee numbers by broad function. Senior management team and key personnel.

5. Legal status

Legal structure of the business e.g. limited company, sole trader, partnership etc.

6. Names of advisers

Name of accountant

Other advisers relevant to the business e.g. solicitors, engineers etc.

7. Suppliers

Principal suppliers and what products and/or services they provide. Details of terms of trade (not necessary if well known to the finance provider).

8. Business assets (premises and equipment)

Location of business premises including value, debt, etc.

If premises are rented, detail the amount and lease details. Key equipment used for the business, detailing its value and how it is funded.

9. Business risks and response to risks

List the key risks affecting the business and how it responds to those

List key competitors and business position relative to them. Consider SWOT analysis of the business.

What are the economic conditions the business is facing?

Is the business exposed to other risks, e.g. foreign exchange or interest rate fluctuations?

10. Financial information

Latest financial accounts

Details of the business’s funding (loans, security, finance providers).
Financial projections.

You can print the SBCI business plan HERE.

The personal data that we obtain about you

Personal data means any information relating to an identified or identifiable natural person. This includes data which either by itself or with other data held by us or available to us, can be used to identify you or other people. Your personal data comprises personal information and financial information relating to your business (the "Applicant") that we have obtained from you. We collect your personal data directly from you and we may also obtain it indirectly from other sources, including from lenders ("Financial Intermediaries") that are participating in the SBCI Brexit Loan Scheme (the "Loan Scheme"). The SBCI will act as data controller in relation to personal data you provide directly to us.

Personal data also includes special categories of personal data. We do not usually ask you for this type of information nor do we obtain it from third party sources. The exception is data concerning your health – this may be processed if you volunteer this information to us or to Financial Intermediaries for instance, if you tell us that you are unable to meet repayments because you have a health condition. Personal data also includes data relating to criminal convictions and offence details and we may process these if fraud prevention checks reveal a fraud or if we identify a fraud in relation to your application.

What we may use and process your personal data for and the relevant legal basis

We are required by data protection law to indicate to you the legal basis which relates to our use and processing of your personal data. This may include (as relevant):

  • Processing that is necessary for performance of a contract or in relation to preparatory steps prior to entering into a contract: for example, completing this Application Form is necessary for the Applicant to be deemed eligible for the Loan Scheme. In particular, your personal data (including name, contact details, address and Eircode, and registration number) will be processed for the purposes of assessing the eligibility of your business for participation in the Loan Scheme. Providing personal data to the SBCI for this purpose is a contractual requirement in order to assess the Applicant’s eligibility for the Loan Scheme. Personal data provided as part of your application may also be processed in the context of the guarantee agreement in place between the SBCI and the relevant Financial Intermediary, if your application for participation in the Loan Scheme is successful. The SBCI will also use your contact details for the purposes of communicating with you in relation to your application and for connected purposes.
  • Processing that is necessary to comply with a legal obligation: (other than a contractual obligation) – such as: (a) to process your request for information or when you exercise your rights against us under data protection law; (b) for compliance with legal and regulatory requirements, including certain requirements to retain records; (c) for establishment and defence of legal rights; (d) for activities relating to the prevention, detection and investigation of crime; (e) to verify identity/ies including under anti-money laundering legislation; (f) to submit information and reports to Government Departments and/or EU institutions.
  • Processing that is based on your freely given, specific, informed and unambiguous consent: in limited circumstances we may rely on your consent to process personal data such as where consent is provided to participate in certain promotional activities in connection with the Loan Scheme and in relation to publication of your personal data (including your name, address and type of financial support provided on the European Investment Fund website in relation to loans above a certain amount). You are entitled to withdraw your consent at any time using the contact details below.
    In relation to publication of your personal data or details of your business by the EIF on its website or in press releases, you may object to such publication by notifying the SBCI in writing (see contact details below) for any of the following reasons:
    (i) where publication would risk harming the commercial interests of your business;
    (ii) where publication risks threatening the rights and freedoms of individuals concerned as protected by the Charter of Fundamental Rights of the European Union;
    (iii) where publication would be illegal under the applicable laws and regulations; or
    (iv) where the applicant is a natural person (i.e. not a corporate or legal entity).
  • Processing that is necessary for legitimate interests: while the SBCI will not rely on its own legitimate interests as a lawful basis for the processing of personal data, personal data provided by the Applicant may be processed by other parties, such as Financial Intermediaries participating in the Loan Scheme for purposes such as: (a) fraud prevention and security purposes; (b) for management of business operations including auditing; (c) for market research and analysis including developing statistics (personal data may be anonymised prior to this – see below); and (d) to administer your loan account and to provide customer service and support functions including by website and or telephone; (e) for direct marketing (subject always to your consent, where that is required).

Eligibility checking

The primary purpose for which we use your personal data is to assess your eligibility for participation in the Loan Scheme. This requires an assessment to be carried out by the SBCI to determine whether the Applicant meets the following criteria:

(i) the Brexit related criteria;

(ii) the Innovation criteria; and

(iii) the State Aid criteria.

Your personal data and other information you submit in the Application Form may be processed automatically. However, any final decision about whether you are eligible for the Loan Scheme will [always] involve human decision-making.

Disclosing personal data to other parties

The SBCI may disclose personal data provided by you to third parties including the following: (a) Financial Intermediaries, participating in the Loan Scheme, including for the purpose of confirming your eligibility; (b) Government Departments including the Department of Business, Enterprise and Innovation and the Department of Agriculture, Food and the Marine, both of which are partners in the Loan Scheme, including for reporting purposes and in response to parliamentary questions; (c) the European Investment Fund (“EIF”) and its agents, the European Investment Bank (“EIB”), the European Court of Auditors, the European Commission (the “Commission”) and its agents including the European Anti-Fraud Office, other European Union institutions or bodies and body which are authorised by applicable law to carry out audit and control activities. Such personal data may be held for a period of 7 years after the later of (i) the termination of the relevant agreement between the SBCI and the European Investment Fund or (ii) 30 June 2022. (d) we may share your personal data with our professional advisors and our auditors; (e) regulatory authorities, government agencies if required to do so by law or where we are required to do so in response to requests from all such bodies; and (f) to our service providers (including the NTMA) who act as data processors on our behalf.

Retention period or criteria used to determine the retention period

We will keep your personal data for as long as we need it to fulfil the purposes for which it was collected (see above). We will keep certain personal data after that in order to comply with legal and regulatory requirements. The criteria we use to determine data retention periods for personal data include the following:

  • Retention for duration of participation in Loan Scheme. Personal data provided with your Application Form will be retained by the SBCI for the duration of the Applicant’s participation in the Loan Scheme and for a period of 7 years thereafter (this shall include for example if your application is approved by the SBCI but the relevant Financial Intermediary denies a loan application and/or if your business fails to draw down any approved loan facility).
  • Retention in case of claims. If the Scheme eligibility of your application is unsuccessful, any personal data contained in your application will be retained for a period of 1 year.
  • Retention in accordance with legal and regulatory requirements. We will retain your personal data after the periods described above as necessary in order to comply with our regulatory compliance obligations.
    If you would like further information about our data retention practices you can ask for this at any time (contact details below).

Your rights under applicable data protection law

There are various rights under data protection law and these will not always be relevant to you. We have described below what the rights are but please do be aware that they will not be engaged in all circumstances. If you wish to exercise any of these rights please contact us (details below).

  • The right to obtain access to personal data that we hold about you and certain prescribed information about how we process it. The purpose of this right is to enable you to obtain confirmation that your data is being processed, to gain access to your personal data, and to other supplementary information about how it is processed. This is to ensure you can be aware of and can verify the lawfulness of the processing relating to your personal data.
  • The right to obtain from us without undue delay the rectification of inaccurate personal data concerning yourself and to have incomplete personal data completed in certain circumstances.

Your rights where data is transferred to the EIF, EIB or the European Commission

Should you wish to exercise your right to verify, correct, delete or otherwise modify personal data relating to that held by the EIF, the EIB or the Commission please address your request to the following:

  • EIF: Attention of EIF Data Protection Officer, European Investment Fund, 37B avenue J.F. Kennedy, L-2968 Luxembourg, Grand Duchy of Luxembourg
  • EIB: Attention of EIB Data Protection Officer, European Investment Bank, 88-100, boulevard Konrad Adenauer, L-2950, Luxembourg, Grand Duchy of Luxembourg
  • European Commission: Attention of Data Protection Officer, European Data Protection Supervisor, Rue Wiertz 60,
    B 1047 Brussels, Belgium. By email: edps@edps.europa.eu

Contact us

If you have questions or queries about this data protection notice you can contact the SBCI Data Protection Officer at the details below:

  • SBCI: Attention of SBCI Data Protection Officer,
  • Strategic Banking Corporation of Ireland
    Treasury Dock
    North Wall Quay
    Dublin 1
    D01 A9T8

Your right to lodge a complaint

You have the right to lodge a complaint with the data protection supervisory authority in Ireland, which is the Office of the Data Protection Commissioner. For more information visit: https://www.dataprotection.ie

See link below

NACE codes

“Aid” means state and/or Commission funding which, but for an exemption granted pursuant to regulations adopted by the EU Commission (including but not limited to the De Minimis Regulation), meets the criteria in Article 107(1) of the Treaty on European Union.

“Commission” means the Commission of the European Union.

“Customer” is used to refer to the SME or Small Mid-cap borrower.

“DAFM” means the Department of Agriculture, Food and the Marine.

“DBEI” means the Department of Business, Enterprise and Innovation.

“De Minimis Regulation” means EU Regulation No 1407/2013 of 18 December 2013 on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to de minimis aid.

“EIB” means the European Investment Bank.

“EIF” means the European Investment Fund.

“Facility” means the debt facility offered to the Customer.

“Finance Documents” means the documents entered into in connection with the Facility.

“Non-Co-Operative Jurisdiction” means any jurisdiction that does not cooperate with the European Union in relation to the application of internationally agreed tax standards (i.e. any jurisdiction classified as “non-compliant” by the Organisation for Economic Cooperation and Development (OECD) and its Global Forum on Transparency and Exchange of Information for Tax Purposes, from time to time, unless otherwise notified by the EIF).

“Pre-Eligibility Application Form” means in respect of each Facility, the completed pre-eligibility application form as delivered by the Customer to the SBCI.

“SBCI” means the Strategic Banking Corporation of Ireland

“SBCI Scheme” means the SBCI Brexit Loan Scheme.

“SME” means a micro, small or medium-sized enterprise which employs fewer than 250 persons and has an annual turnover not exceeding EUR 50 million, and/or an annual balance sheet total not exceeding EUR 43 million. (See commission recommendation 2003/361/EC for further details (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32003H0361&from=EN)

“Small Mid-cap” means an enterprise within the meaning of Article 1 of the Title I of the Annex of the Commission Recommendation (https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32003H0361&from=EN) which:

(a) has up to 499 employees calculated in accordance with Articles 3, 4, 5 and 6 of the Title I of the Annex of the Commission Recommendation; and

(b) is not an SME.

The Borrower must comply with the following

  • it is an SME or Small Mid-cap;
  • it is not active in any sector in Ireland outside the scope of the SBCI Scheme including, without limitation, the agricultural sector and/or fishery and aqua-cultural sector;
  • it is not an “undertaking in difficulty” (within the meaning of the Commission Regulation (EU) No 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty on European Union and the Treaty on the Functioning of the European Union (OJ C 83 of 30.3.2010), (as amended, restated, supplemented and/or substituted from time to time); (http://eur-lex.europa.eu/legal... does not have a substantial focus on one or more Restricted Sectors listed in Commission Implementing Regulation (EU) No 964/2014. (https://publications.europa.eu... is not established in a Non-Co-Operative Jurisdiction (meaning a jurisdiction that does not cooperate with the European Union in relation to the application of internationally agreed tax standards);
  • it is established and operating in Ireland;
  • it has not received loans under the SBCI Scheme of more than €1,500,000 in aggregate;
  • it has not received, including under the applicable Facility, Aid in excess of what is permitted under the De Minimis Regulation.
  • Is not delinquent or in default under any agreement with the Bank or another financial institution (save as may be agreed with the Bank at its entire discretion)
  • is not bankrupt or being wound up or having its affairs administered by the courts;
  • in the last 5 years has not entered into an arrangement with creditors, in the context of being bankrupt or wound-up or having its affairs administered by the courts;
  • has not been convicted of an offense or subject to a ruling concerning professional conduct, fraud, corruption, involvement in a criminal organisation, money laundering or any other illegal activity where such illegal activity is detrimental to the European Union’s financial interests.
  • is not performing, and shall not perform, illegal activities according to applicable legislation in the country of the SBCI, the Bank or the Customer (including national, Union and international legislation, including the Charter of Fundamental Rights of the European Union and the European Convention on Human Rights and its Supplementary Protocols).

The Customer must use the loan proceeds for:

  • working capital requirements; and
  • innovation, change or adaption of its business to mitigate the impact of Brexit (subject to any conditions imposed on the purpose of the Facility by the SBCI Scheme),

The Customer must not use the loan proceeds for:

  • refinance of existing debt owed by it;
  • financing of specific export operations or current expenditure linked to the export activity, including, for the avoidance of doubt, trade finance products;
  • financing contingent upon the use of domestic products over imported products;
  • financing the establishment and operation of a distribution network in other Member States of the European Union; or
  • finance the purchase of road freight transport vehicles.

The customer must confirm that, as at the date of the contractual documents relating to the Facility entered into by the Customer, it satisfies the eligibility criteria for the SBCI Scheme and that it undertakes to procure that it shall at all times comply with those eligibility criteria.

The Customer undertakes to confirm the amount of Aid received by it and the amount of Aid receivable by it under the Facility, in each case in respect of Aid under the De Minimis Regulation and if the Customer receives, under the SBCI Scheme or otherwise, aid in excess of what that Customer is permitted to receive by law, the Customer shall return to the Bank for onward transmission to the SBCI any such excess aid received under the SBCI Scheme in breach of law together with any other amount due in respect of that aid immediately upon: (i) the Customer becoming aware of such excess receipt; and/or (ii) the Bank notifying the Customer of same; and

The Customer undertakes to maintain and be able to produce all documentation related to any information supplied in connection with the Facility for a period of seven (7) years after the termination of the SBCI Scheme.


There is a two-step process to apply for a loan:

  1. The first step is to confirm your eligibility to apply for a loan in the scheme by completing the Eligibility Application Form available at www.sbci.gov.ie. You will receive an eligibility letter if your application is successful. This eligibility letter is not a guarantee of loan approval.
  2. Once you receive confirmation that you are eligible you must then engage with the Bank(s) to begin their standard loan application process. It is only at this stage that a decision will be made on credit approval.

See eligibility criteria below.

No, these loans cannot be used to refinance existing debt such as term loans, leases or HP.

The resources are limited and therefore being targeted towards where they are most needed, to support cashflow impacted by Brexit creating additional credit.

You can get more than one loan provided that the total of those loans does not exceed €1.5m. A separate eligibility code is required for each loan

This depends on the loan amount involved and if the bank has all the information it needs to process an application. The banks' websites provide details on their loan application times.

Yes, you can apply to all banks, however your eligibility code can only be used once. When you receive a loan offer from a bank they will lock down your code and this cannot be used by another bank. If you decide after that point to proceed with another bank, you will need to re-apply for a new eligibility code.

The maximum amount of loan(s) you can get under the scheme is €1,500,000.

The full amount of the loan may have not been available due to the de minimis threshold. Also, approval of a loan under the scheme is subject to the bank's credit policy. The maximum loan amount will not be appropriate in every case. If you are not satisfied with the reason given you can use the bank’s appeal process.

Loans less than €500K should not require security.

Yes, provided the total of those loans is less than €500k. Loans greater than €500k may be secured.

The interest rate charged is at the discretion of the bank but is limited at a maximum interest rate of 4%. The interest rate should be fixed for the term of the loan.

As per the EU definition:

  • An SME is an independent enterprise that employs fewer than 250 persons and which has an annual turnover not exceeding €50m and/or an annual balance sheet total not exceeding €43m
  • A small mid-cap is an enterprise that employs more than 250 but fewer than 500 persons

State aid can occur whenever State resources are used to aid an entity engaged in economic activity that potentially could distort competition and trade.

The European Commission allows small amounts of state aid to be given to an entity as long as the aid complies with the De Minimis Regulations and remains below a certain threshold. Examples of sources of state aid may include funding under schemes from Enterprise Ireland, Bord Bia, or a Local Enterprise Office.

The maximum amount of de minimis aid any single recipient can receive is €200,000 (gross grant equivalent) over a three-year fiscal period. The total amount of de minimis aid given to a single recipient performing road freight transport for hire or reward cannot exceed €100,000 over a three-year fiscal period.

For loans under this scheme, the amount of de minimis aid which is provided to a borrower determined by the size and duration of the loan under the de minimis rules.

The de minimis aid is not equal to the total amount of the loan.

Where you have received State aid, you will have received a letter from the State body that provided it. Examples of State aid granting bodies include Enterprise Ireland, Bord Bia or the Local Enterprise Office.

It stands for the “Statistical Classification of Economic Activities in the European Community”. It is the standard system used in the European Union for classifying business activity.

NACE codes are divided into sectors such as retail, manufacturing, services. A searchable list of NACE Codes is available on the SBCI website.

A business would be considered to be a family business where the members of one family, or a small number of related families control the business, for example

  • they hold more than 50% of voting shares, and/or
  • they supply a significant proportion of the senior management and
  • the owners and/or senior managers perceive the business to be a family business.

It means that the main presence of business is in Ireland (excluding Northern Ireland).

The policy underpinning the scheme is aimed at delivering innovation in small businesses facing the challenge of Brexit, especially food companies. Agriculture working capital was covered in the SBCI Agriculture Cashflow Support Scheme that was released in 2017 and is excluded under the terms of the European Commission’s Innovfin support for the scheme.

Indirectly exposed means that you are conducting business with an enterprise that is itself exposed to the UK (including Northern Ireland) market.

No, copies are sufficient.

The definition is broad and can includes not only technological innovation and research but also any innovation relating to the organisation (e.g. structure changes/improvements), processes (e.g. production improvements), marketing (e.g. advertising/packaging/labels etc)

Yes, you need to prepare a business plan in all cases regardless of the loan amount.

You must give the business plan to the finance provider.

The applicant is responsible for preparing the business plan. The SBCI encourages all applicants to consider using the expertise of an accountant/financial adviser in that process

A guidance note is available further up on this page.

You need tick only one of the Brexit Options that most applies to your business and only one of the Innovation Options that most applies to your business.

It is important that all the declarations at the end of the form are completed as well.

This is a person who is authorised to sign declarations on behalf of the business e.g. the business owner or the CEO.

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Brexit Loan Scheme