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SBCI

Energy Efficiency Loan Scheme

A low-cost scheme designed to support eligible SMEs, including primary producers, investing in the energy efficiency of their enterprises.

SME Business including Fishers
SME Agriculture

The Energy Efficiency Loan Scheme (EELS) is established and offered by the Strategic Banking Corporation of Ireland (SBCI) and benefits from a guarantee provided by COSME and the European Fund for Strategic Investment (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.

The level of investment in energy efficiency by Irish SMEs is lower when compared to their European counterparts. The Energy Efficiency Loan Scheme supports qualifying viable Irish businesses and primary producers (farmers/fishers) by providing access to affordable long-term finance, enabling them to invest in the energy efficiency of their enterprise.

Step 1 – Applicants must first submit an Eligibility Application Form to the SBCI to check if they are eligible for the scheme. If the SBCI determines that an applicant is eligible, they will be notified in writing and will be supplied with an eligibility reference number (eligibility code).

Step 2 – The applicant must provide this eligibility confirmation letter/code to the relevant on-lender to begin their standard credit application process.

Please note that the SBCI eligibility letter/code is not a guarantee of credit approval and does not oblige the on-lender to provide finance.

Approval of finance is subject to the scheme on-lenders’ own credit criteria, policies and procedures.

The Energy Efficiency Loan Scheme will operate until 31 December 2023 or until the scheme has been fully subscribed.

For more information on making an application, please click here.

The Energy Efficiency Loan Scheme has been established to support eligible SMEs to invest in the energy efficiency of their enterprises.

Assets listed on the Sustainable Energy Authority of Ireland (SEAI) Triple E Register for Products are deemed eligible energy efficiency assets that may be financed under this scheme, except for electric vehicles (EVs).

  • Loan amounts from €10,000 to a maximum of €150,000 per borrower (loan amounts are dependent on aid intensity and State aid thresholds)
  • Loan terms of 1 year up to 10 years (loan terms are dependent on the purpose of the loan)
  • Loans may be secured only by the asset being funded. Personal guarantees are not permitted security
  • Loans may only be used for the purposes of upgrading the energy efficiency of the enterprise. To be eligible for inclusion, the asset to be financed must be listed on the SEAI Triple E Register for Products
  • Allowable loan types include term loans, hire purchase and asset finance products
  • Loans are available up to 31 December 2023

For an expanded list of scheme criteria, please check the Terms & Conditions below.

The scheme’s on-lenders will apply a minimum discount of 1% on their standard comparable rate for a non-EELS debt product.

Loans will not be provided to SMEs with a business focus on one or more restricted sectors, including:

  • the production of and trade in tobacco and distilled alcoholic beverages and related products
  • casinos and equivalent enterprises
  • the financing of, the production of, and the trade in weapons and ammunition of any kind. This restriction does not apply to the extent that such activities are part of or accessory to explicit EU policies, or
  • the purchase of electric vehicles (EVs) - but please note that EV infrastructure is eligible for funding.

For an expanded list of excluded activities, please check the Terms & Conditions below.

Viable micro-, small and medium-sized enterprises (SMEs), including those involved in primary agriculture and fishing, that meet the eligibility criteria.

SMEs are defined by the standard EU definition contained in Commission Recommendation 2003/361/EC (concerning the definition of micro, small and medium-sized enterprises (OJ L 124, 20.05.2003, p.36), as amended, restated, supplemented and/or substituted from time to time ) as enterprises that:

  • have fewer than 250 employees
  • have an annual turnover not exceeding €50 million and/or an annual balance sheet total not exceeding €43 million
  • are independent and autonomous, not part of a wider group of enterprises
  • have less than 25% of their capital held by public bodies.

In addition, in order to be eligible for the scheme, SMEs must be both established and operating in the Republic of Ireland.

For an extensive definition of qualifying enterprises, please check the Terms & Conditions below.

An SME that:

  • does not satisfy the eligibility criteria
  • is bankrupt or being wound up or having its affairs administered by courts
  • is subject to, or fulfil the criteria under domestic law for being placed in, collective insolvency proceedings
  • in the last five years has entered into an arrangement in the context of being bankrupt or wound up or having its affairs administered by courts
  • has a substantial focus in one or more of the excluded activities or restricted sectors
  • has been convicted of an offence 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 EU’s financial interest.

For an expanded list, please check the Terms & Conditions below.

To be eligible for finance, applicants must meet the Scheme’s Eligibility Criteria and the energy efficiency asset must be listed on the SEAI Triple E Register for Products.

Please note that while included on the Triple E Register for Products, Electric Vehicles (EVs) are not eligible assets for funding under the SBCI Energy Efficiency Loan Scheme. However, EV charging points are eligible for funding.

For an expanded list of eligibility criteria, please check the Terms & Conditions below.

Once applicants have received the eligibility confirmation letter from the SBCI (step 1 of the application process), they must submit their credit application, together with the SBCI eligibility letter/code, to the following on-lenders to begin their standard loan application process (step 2):

Additional on-lenders will be announced in the coming weeks, please check the SBCI website for further information.

The Scheme will operate under the following State aid measures:

  • the General De Minimis Regulation, which shall apply to all SMEs, other than (i) SMEs active in the fishery and aquaculture sector and (ii) SMEs active in the primary production of agricultural products;
  • the Fishery De Minimis Regulation, which shall apply to those SMEs active in the fishery and aquaculture sector; and
  • Article 14 of the Agriculture Block Exemption Regulation (ABER), which shall apply to those SMEs active in the primary production of agricultural products.

For a more extensive description of the State aid measures applicable to the Scheme, please refer to the relevant Regulations.

The information provided by borrowers may be shared with, amongst others, the SBCI and its agents, the European Investment Fund (EIF) and its agents, the Commission and its agents (including OLAF, the European Anti-Fraud Office), the European Court of Auditors, the European Investment Bank, and any other European Union institution or body which is entitled to verify the use of the guarantee provided by COSME to the SBCI, together with their respective affiliates, officers, directors, employees, professional advisers and auditors.

The SBCI is required to publish the name of any borrower and the aid amount received by that borrower on its website in circumstances where:

  • aid has been granted to a borrower who is active in the primary production of agricultural products; and
  • the individual aid awarded to that borrower is in excess of €60,000.

Please note that the credit amount is not the aid amount. The borrower will be sent a State aid letter by the SBCI if any State aid is generated by a financing under EELS. Only if the amount of State aid exceeds the above threshold will the details require publication.

Please see the SBCI Data Protection Statement.

NACE is the standard system used in the European Union for classifying business activity.

Download a list of NACE Codes applicable for the Scheme.

Climate Toolkit 4 Business - Start your zero carbon journey. Tackling our carbon emissions is good for our planet, our economy and your business. This Toolkit provides you with practical ways to start taking action.

SEAI - Small and Medium Business. Save your business money and enhance your brand through energy efficiency training and supports.

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Step 1 – Applicants must first submit an Eligibility Application Form to the SBCI to check if they are eligible for the scheme. If the SBCI determines that an applicant is eligible, they will be notified in writing and will be supplied with an eligibility reference number (eligibility code).

Step 2 – The applicant must provide this eligibility confirmation letter/code to the relevant on-lender to begin their standard credit application process.

Please note that the SBCI eligibility letter/code is not a guarantee of credit approval and does oblige the on-lender to provide finance.

Approval of finance is subject to the scheme on-lenders’ own credit criteria, policies and procedures.

The Energy Efficiency Loan Scheme will operate until 31 December 2023 or until the scheme has been fully subscribed.

For more information on making an application, please click here

The Energy Efficiency Loan Scheme has been established to support eligible SMEs to invest in the energy efficiency of their enterprises.

Assets listed on the Sustainable Energy Authority of Ireland (SEAI) Triple E Register for Products are deemed eligible energy efficiency assets that may be financed under this scheme, except for electric vehicles (EVs).

  • Loan amounts from €10,000 to a maximum of €150,000 per borrower (loan amounts are dependent on aid intensity and State aid thresholds)
  • Loan terms of 1 year up to 10 years (loan terms are dependent on the purpose of the loan)
  • Loans may be secured only by the asset being funded. Personal guarantees are not permitted security
  • Loans may only be used for the purposes of upgrading the energy efficiency of the enterprise. To be eligible for inclusion, the asset to be financed must be listed on the SEAI Triple E Register for Products
  • Allowable loan types include term loans, hire purchase and asset finance products
  • Loans are available up to 31 December 2023

For an expanded list of scheme criteria, please check the Terms & Conditions below.

The scheme’s on-lenders will apply a minimum discount of 1% on their standard comparable rate for a non-EELS debt product.

Loans will not be provided to SMEs with a business focus on one or more restricted sectors, including:

  • the production of and trade in tobacco and distilled alcoholic beverages and related products
  • casinos and equivalent enterprises
  • the financing of, the production of, and the trade in weapons and ammunition of any kind. This restriction does not apply to the extent that such activities are part of or accessory to explicit EU policies, or
  • the purchase of electric vehicles (EVs) - but please note that EV infrastructure is instead for funding

For an expanded list of excluded activities, please check the Terms & Conditions below.

Viable micro, small and medium-sized enterprises (SMEs), including those involved in primary agriculture and fishing, that meet the eligibility criteria.

SMEs are defined by the standard EU definition contained in Commission Recommendation 2003/361/EC (concerning the definition of micro, small and medium-sized enterprises (OJ L 124, 20.05.2003, p.36), as amended, restated, supplemented and/or substituted from time to time ) as enterprises that:

  • have fewer than 250 employees
  • have an annual turnover not exceeding €50 million and/or an annual balance sheet total not exceeding €43 million
  • are independent and autonomous, not part of a wider group of enterprises
  • have less than 25% of their capital held by public bodies.

In addition, in order to be eligible for the scheme, SMEs must be both established and operating in the Republic of Ireland.

For an extensive definition of qualifying enterprises, please check the Terms & Conditions below.

An SME that:

  • does not satisfy the eligibility criteria
  • is bankrupt or being wound up or having its affairs administered by courts
  • is subject to, or fulfil the criteria under domestic law for being placed in, collective insolvency proceedings
  • in the last five years has entered into an arrangement in the context of being bankrupt or wound up or having its affairs administered by courts
  • has a substantial focus in one or more of the excluded activities or restricted sectors
  • has been convicted of an offence 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 EU’s financial interest.

For an expanded list, please check the Terms & Conditions below.

To be eligible for finance, applicants must meet the Scheme’s Eligibility Criteria and the energy efficiency asset must be listed on the SEAI Triple E Register for Products.

Please note that while included on the Triple E Register for Products, Electric Vehicles (EVs) are not eligible assets for funding under the SBCI Energy Efficiency Loan Scheme. However, EV charging points are eligible for funding.

For an expanded list of eligibility criteria, please check the Terms & Conditions below.

Once applicants have received the eligibility confirmation letter from the SBCI (step 1 of the application process), they must submit their credit application, together with the SBCI eligibility letter/code, to the following on-lenders to begin their standard loan application process (step 2):

Additional on-lenders will be announced in the coming weeks, please check the SBCI website for further information.

The Scheme will operate under the following State aid measures:

  • the General De Minimis Regulation, which shall apply to all SMEs, other than (i) SMEs active in the fishery and aquaculture sector and (ii) SMEs active in the primary production of agricultural products;
  • the Fishery De Minimis Regulation, which shall apply to those SMEs active in the fishery and aquaculture sector; and
  • Article 14 of the Agriculture Block Exemption Regulation (ABER), which shall apply to those SMEs active in the primary production of agricultural products.

For a more extensive description of the State aid measures applicable to the scheme, please refer to the relevant Regulations.

The information provided by borrowers may be shared with, amongst others, the SBCI and its agents, the European Investment Fund (EIF) and its agents, the Commission and its agents (including OLAF, the European Anti-Fraud Office), the European Court of Auditors, the European Investment Bank, and any other European Union institution or body which is entitled to verify the use of the guarantee provided by COSME to the SBCI, together with their respective affiliates, officers, directors, employees, professional advisers and auditors.

The SBCI is required to publish the name of any borrower and the aid amount received by that borrower on its website in circumstances where:

  • aid has been granted to a borrower who is active in the primary production of agricultural products; and
  • the individual aid awarded to that borrower is in excess of €60,000.

Please note that the credit amount is not the aid amount. The borrower will be sent a State aid letter by the SBCI if any State aid is generated by a financing under EELS. Only if the amount of State aid exceeds the above threshold will the details require publication.

Please see the SBCI Data Protection Statement.

NACE is the standard system used in the European Union for classifying business activity.

Download a list of NACE Codes applicable for the Scheme.

Climate Toolkit 4 Business - Start your zero carbon journey. Tackling our carbon emissions is good for our planet, our economy and your business. This Toolkit provides you with practical ways to start taking action.

SEAI - Small and Medium Business. Save your business money and enhance your brand through energy efficiency training and supports.

SEAI - Support Scheme for Energy Audits (SSEA). Find out if your business is eligible for a €2,000 voucher towards the cost of a professional energy audit.

Please note – The description of the scheme on this webpage has been prepared for the purposes of providing information of a general nature to potential applicants and others interested in the scheme.

The various legal documents presented by the scheme on-lenders will contain the full terms and conditions of the scheme.

In addition to the criteria listed in the “Loan Features” section above, the financing arrangements must meet the following criteria:

  • the loan must be provided in compliance with the relevant State aid regime,
  • the loan must be made available in a participating Member State,
  • the loan must be entered into by 31 December 2023,
  • the loan must be term loan denominated in euro
  • the loan must have a minimum scheduled maturity of one year,
  • the final scheduled maturity date of the loan must not fall after 30 December 2033,
  • the loan must comply with any applicable transfer of benefit terms under the regime,
  • the loan shall not finance illegal activities or artificial arrangements aimed at tax avoidance,
  • the documents governing the loan must be legal, valid, binding and enforceable under applicable law, and
  • the loan must not finance transactions with a sanctioned person.

In addition to the excluded activities listed above, loans will not be provided to SMEs that have a substantial focus in any of the following sectors:

  • Illegal economic activities. Any production, trade or other activity, that is illegal under the laws or regulations of the home jurisdiction for such production, trade or activity. Human cloning for reproduction purposes is considered an illegal economic activity.
  • IT sector restrictions. Research, development or technical applications relating to electronic data programs or solutions, which (a) aim specifically at (i) supporting any activity included in the illegal economic activities section above or in the excluded activities section above, (ii) internet gambling and online casinos or (iii) pornography or which (b) are intended to enable to illegally (i) enter into electronic data networks or (ii) download electronic data.
  • Life science sector restrictions. When providing support to the financing of the research, development or technical applications relating to:
    • human cloning for research or therapeutic purposes; and
    • Genetically Modified Organisms (GMOs). The SBCI will require from the on-lender appropriate specific assurance on the control of legal, regulatory and ethical issues linked to such human cloning for research or therapeutic purposes and/or GMOs.

Applicants must not use the loan proceeds for:

  • financing the purchase of Electric Vehicles (EVs)
  • refinancing of existing debt
  • financing of export-related activities towards third countries or other EU Member States, or the establishment and operation of a distribution network or to other current expenditure linked to the export activity
  • financing contingent upon the use of domestic over imported products.

Where the financing is covered by Article 14 of ABER, any credit advanced must also not be used for the following additional purposes:

  • to support the purchase of production rights, payment entitlements and annual plants
  • to support the planting of annual plants
  • to support drainage works
  • to support investments made so as to comply with EU standards in force
  • to support the purchase of animals, or
  • to acquire land.

Where the financing is covered by the Fishery De Minimis Regulation, any credit advanced must also not be used for the following additional purposes:

  • where the amount of the credit advanced is fixed on the basis of price or quantity of products purchased or put on the market
  • to support the purchase of fishing vessels
  • to support the modernisation or replacement of main or ancillary engines of fishing vessels
  • to support operations increasing the fishing capacity of a vessel or equipment increasing the ability of a vessel to find fish
  • to support the construction of new fishing vessels or importation of fishing vessels
  • to support the temporary or permanent cessation of fishing activities unless specifically provided for in Regulation (EU) No. 508/2014
  • to support exploratory fishing
  • to support the transfer of ownership of a business
  • to support direct restocking, unless explicitly provided for as a conservation measure by an EU legal act or in the case of experimental restocking.

In addition to the SMEs definition above, please see also the following definition for qualifying enterprises:

“Branch” has the same meaning as it has in Commission Regulation (EU) 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, and includes an establishment within the meaning of that Regulation.

“Qualifying Enterprises” means:

an SME established, or with a branch (as defined above), in the State.

“Commission Recommendation” means Commission Recommendation (2003/361/EC) of 6 May 2003 concerning the definition of micro, small and medium-sized enterprises.

“SMEs” means a micro, small or medium-sized enterprise within the meaning of the Commission Recommendation (as defined above).

An SME that:

  • has previously received financing under the Scheme (whether from one financial institution or a number of financial institutions) which amounts to €150,000 in total in aggregate, being the maximum amount of credit which may be advanced to any one borrower under the Scheme.

Where the financing is covered by ABER:

  • is subject to an outstanding recovery order following a previous Commission decision declaring an aid illegal and incompatible with the internal market
  • is a limited liability company (other than an SME that has been in existence for less than three years), where more than half of its subscribed share capital has disappeared as a result of accumulated losses
  • is a company where at least some members have unlimited liability for the debt of the company (other than an SME that has been in existence for less than three years), where more than half of its capital as shown in the company accounts has disappeared as a result of accumulated losses.

In addition to the Eligibility Criteria listed above, an SME must satisfy all of the following criteria:

  • is established and operating in a participating Member State
  • it does not have a substantial focus on one or more excluded sectors (see Excluded Activities)
  • it is not delinquent or in default under any agreement with any financial institution;
  • it is not engaged in any illegal activities
  • it is not a sanctioned person or in breach of EU restrictive measures
  • it is not subject to any preferential tax measures regarded as harmful under the EU list of non-cooperative jurisdictions for tax purposes, and
  • it has not received, including under the Financial Product(s) proposed to be advanced under the Scheme, State aid in excess of what is allowable under the relevant State aid regime applicable to the financing.

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

STEP 1 - The first step is to check your eligibility to apply for funding under EELS by completing the Eligibility Application Form. If your application is successful, you will receive an eligibility letter/code directly from the SBCI. Please note, the SBCI eligibility letter/code is not a guarantee of credit approval.

STEP 2 - Once you receive your confirmation eligibility code, you must then engage with the scheme’s participating on-lenders to begin their standard credit application process. It is only at this stage that a decision will be made on credit approval.

Loans of €10,000 up to €150,000 can be applied for under EELS.

The SBCI eligibility number is valid for six months from the date of issue, but it is always subject to the scheme remaining open and having funding available.

Yes. The SBCI eligibility letter/code can be used multiple times, provided that you don't exceed the maximum loan amount available under the scheme (€150,000) and the eligibility letter/code hasn't expired.

Loans can be for terms of up to ten years in duration.

Loans can be used to fund the purchase of energy efficiency assets such as heat pumps, solar panels, lighting controls, chillers and fluid coolers, commercial water boilers, etc. Assets listed on the SEAI Triple E Register for Products are deemed eligible assets for the purpose of this scheme.

No. Financing the purchase of electric vehicles (EVs) is not allowed under this scheme. However, the purchase of EV infrastructure such as charging points is eligible for funding.

No. This scheme does not allow for the refinancing of existing loans / debt products.

Yes. The purchase of second-hand or new equipment aimed at upgrading the energy efficiency of the business is a permissible purpose under EELS, as long as the asset is listed on the SEAI Triple E Register for Products. Please note, the purchase of electric vehicles (EVs) is not eligible for funding under this scheme.

This depends on the loan amount involved and if the on-lender has all the information needed to process an application. The on-lenders’ own websites provide details on their loan application times. Further details on EELS on-lenders are available at sbci.gov.ie

Yes. You can use the same SBCI eligibility letter/code to apply for a loan to different on-lenders provided that you don't exceed the maximum loan amount available under the scheme (€150,000) and the eligibility code hasn't expired.

Yes. You can get more than one loan, provided that the total of those loans does not exceed the maximum loan amount available under EELS.

The maximum amount of loan(s) you can get under this scheme is €150,000.

Interest rates charged on this scheme will vary by on-lender but will include a discount from their normal lending rates.

Loans may be secured by the asset being funded only. Personal guarantees are not permitted under this scheme.

Loans under EELS are available up to 31 December 2023, or until the scheme has been fully surbscribed.

The Sustainable Energy Authority of Ireland (SEAI) Triple E Register for Products is a list of energy efficiency products that all meet a minimum set of stringent energy efficiency criteria and typically will reach a best-in-class efficiency standard. The register includes a broad range of assets across a wide spectrum of areas, including heating and electricity provision, lighting and refrigeration and cooling. Under EELS, loans can be used to fund the purchase of energy efficiency assets such as heat pumps, solar panels, lighting controls, chillers and fluid coolers, commercial water boilers etc.

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 or the EU Commission Agriculture Block Exemption Regulation (ABER) and remains below a certain threshold. Examples of sources of State aid may include funding under schemes from the Department of Agriculture, Enterprise Ireland, Bord Bia or a Local Enterprise Office.

For SMEs in sectors other than fishery and aquaculture, the maximum amount of De minimis aid any single recipient can receive cannot exceed €200,000 over a three-year fiscal period.

For SMEs in the fishery and aquaculture sector, de minimis aid is State aid given to an enterprise cannot exceed €30,000 over a three-year fiscal period.

For SMEs in the primary agriculture sector, article 14 of the EU Commission Agriculture Block Exemption Regulation (ABER) states that aid for investments in tangible assets on agricultural holdings linked to primary agricultural production cannot exceed €500,000 per undertaking per investment project.

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 EELS, the amount of de minimis aid that is provided to a borrower is determined by the size and duration of the loan under the de minimis rules.

Please note, the de minimis aid is not equal to the total amount of the loan.

When you receive State aid, you will receive a letter from the State body that provided it. Examples of State aid granting bodies include the Department of Agriculture, Enterprise Ireland, Bord Bia or the Local Enterprise Office.

It stands for the “Statistical Classification of Economic Activities in the European Community” and is the standard system used in the European Union for classifying business activity. NACE codes are divided into sectors, such as retail, manufacturing, services etc.

Searchable list of NACE Codes eligible for EELS.

It means that the scheme applicant operates their business mainly in the Republic of Ireland.

A primary producer is a person engaged in the production, rearing or growing of primary products including harvesting, milking and farmed animal production. It also includes fishing and the harvesting of wild products.

You should complete and submit the SME Businesses including Fishery form. We will contact you directly if any additional information or documentation is required.

This is a person who is authorised to sign declarations on behalf of the business, for example the business owner or the CEO.

The approval of a loan under the scheme is subject to the on-lenders’ credit policy. The maximum loan amount might not be considered appropriate in every case by the on-lender. The full amount of the loan may have not been available due to the de minimis threshold.

If you are not satisfied with the reason given, you are initially encouraged to use the on-lenders' appeals process.

In the case that the on-lender is a bank, if your appeal is unsuccessful you may be eligible for the services of the Credit Review Office.

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A low-cost scheme designed to support eligible SMEs, including primary producers, investing in the energy efficiency of their enterprises.
SME Business including Fishers SME Agriculture