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.