Brexit advice
 

In April the Government launched the Future Growth Loan Scheme to provide affordable financing to SMEs and the primary agriculture and seafood sectors to support strategic long-term investment in a post Brexit environment. The Scheme, which will be delivered by the Strategic Banking Corporation of Ireland (SBCI) through commercial lenders and makes €300 million available to eligible businesses with up to 499 employees.

 

Loan features:

  • Loan amount from €100,000 (€50,000 for primary agriculture) up to a maximum of €3,000,000
  • Loan term from a minimum of 8 years to a maximum of 10 years
  • Loans less than €500,000 will be unsecured
  • Interest rate of 4.5% for loans up to €249,999 and 3.5% and less for loans greater than or equal to €250,000.

 

Loans can be used for:

  • Investment in tangible or intangible assets to increase productivity and/or efficiency, set up a new establishment or the extension of an existing one.
  • Investment in diversification into new additional products or a change in a production process.
  • Investment in tangible or intangible assets for process and organisational innovation.
  • Investment in tangible and intangible assets on agricultural holdings linked to primary agricultural production. (excludes purchase of land (other than site costs) or livestock)
  • Investment in connection with the processing and marketing of agricultural products.

How to apply for a loan:

  • Businesses can now apply for loan eligibility through the SBCI
  • If the SBCI determines that the Applicant is eligible it will confirm that to the Applicant in writing
  • The Applicant must provide this eligibility confirmation letter to the relevant Financial Institution when applying for a loan.

 

For more information on this or another Brexit issue contact Elizabeth on 01 605 1626 or elizabeth.bowen@sfa.ie. 

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In this issue
SFA E-zine - The Wednesday Edition
Recent press coverage
Brexit advice
New changes to the employment permits system for non-EEA employees
Recruitment
Skillnet
Majority of Irish small businesses keen to remain at current scale, study finds
SFA Smart Business Conference 2019
Business Bytes: Employment law seminar
Upcoming digital marketing masterclass on 9 May