SBCI Business Loans

The SBCI (Strategic Banking Corporation of Ireland) is a Euro/Ireland initiative designed to provide strategic funding for SMEs in Ireland. FEXCO Asset Finance, in partnership with the SCBI, can offer business loans at a competitive, discounted rate.

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SBCI
SBCI Logo

The Strategic Banking Corporation of Ireland (SBCI)

The SBCI aims to deliver lower cost, long-term, innovative and accessible funding to independent Irish SMEs. It does so by offering flexible products, through its On-Lending Partners, tailored to the SME market.

SBCI Introduction

Duration 1:45

What is the SBCI?

A new, strategic SME funding company, the SBCI’s goal is to ensure access to flexible funding for Irish SMEs by facilitating the provision of:

  • flexible products with longer maturity and capital repayment flexibility, subject to credit approval;
  • lower cost funding to financial institutions which is passed on to SMEs;
  • market access for new entrants to the SME lending market, creating real competition.

For more detail refer to: http://sbci.gov.ie

Lending to Support SMEs

To help develop your business, FEXCO Asset Finance – in partnership with the SBCI – can offer you funding at a competitive discounted rate from our standard business rates. The loans will assist with new Asset Finance facilities for SMEs.

All loans are subject to eligibility criteria and terms and conditions.

Who Qualifies for SBCI Funding?

An entity qualifies as an independent Small Medium Enterprise if it meets each of the following criteria:

  1. less than 250 employees;
  2. annual turnover of less than €50m, and/or a balance sheet total less than €43m;
  3. The enterprise is an independent, autonomous entity (or, if part of a wider group of enterprises, the entire group must qualify as an SME).
  4. less than 25% of capital voting rights held by public bodies;
  5. the enterprise has a significant presence in Ireland;

Please refer to http://sbci.gov.ie for comprehensive detail on qualifying criteria.

Competitive Interest Rate

Finance is available at a competitive discounted interest rate from FEXCO Asset Finance standard rates.

 

What is eligible for SBCI supported Leasing/Hire Purchase?

  • the SBCI Finance can be used for new long-term investment loans that are incurred in the development of an SME;
  • the SBCI funding can also be used to refinance banks exiting the Irish market;
  • the Finance amount is a minimum of €10,000, with a maximum financing amount of €1,000,000;
  • the minimum term of the facility is 2 years and maximum repayment finance term is 5 years.

Please refer to http://sbci.gov.ie for comprehensive detail on qualifying criteria.

State Aid

The provision of funding for these facilities is being made under the De Minimis State Aid rules which allow for the provision of State Aid. SMEs may avail of De Minimis State Aid provided it does not exceed €200,000 in any 3-year period. In the case of certain loans, State Aid may arise by virtue of the discounted interest rate received by the SME on SBCI funding, and if so, the SME will be advised. It is important to note that the Aid is not the amount of the Finance.

Full details available at http://sbci.gov.ie/

Summary of Excluded Activities from SBCI Funding

  • finance of specific export operations, or finance contingent upon the use of domestic over imported products. In particular, it should not apply to financing the establishment and operation of a distribution network in other States, or current expenditure linked to the export activity;
  • finance of pure real estate development activity;
  • finance of activities constituting pure financial transactions (e.g. purchase of shares);
  • finance to undertakings in difficulty;
  • finance of activities forbidden by national or EU law;
  • agriculture (see specific SBCI Agricultural Investment Loan product), aquaculture and fisheries loans.

Please refer to http://sbci.gov.ie for comprehensive detail on specific exclusions.

Agriculture Investment Loan Scheme (AILS)

What is eligible for an Agriculture Investment Loan?

  • available to qualifying Agri SMEs and Farmers;
  • the loan is available to support farm investment in agricultural machinery and in production facilities;
  • the loan amount is a minimum of €10,000, with a maximum loan amount of €1,000,000;
  • the minimum loan term of the facility is 2 years and maximum repayment loan term is 5 years;
  • the borrower must submit a written loan application before work on the project or activity commences along with a list of costs. Loan amount must not exceed 1.5 times the amount of eligible costs (as defined in Commission Regulation (EU) No 702/2014 of 25 June 2014);
(for further detail on eligible and ineligible costs please refer to http://sbci.gov.ie.)
    the aid intensity or total aid resulting from a loan shall not exceed 40% of the amount of the eligible costs;
  • investments shall be in conformity with EU legislation and with Irish law on environmental protection under the Protection of the Environment Act 2003;
  • loans may be advanced to support investments in tangible assets on agricultural holdings linked to primary agricultural production or processing of agricultural products;
  • where the loan is to support investments in tangible assets on agricultural holdings linked to primary agricultural production, the investment should pursue at least one of the following objectives:
    • the improvement of the overall performance and sustainability of the agricultural holding;
    • the improvement of the natural environment, hygiene conditions or animal welfare standards, provided the investment goes beyond EU standards;
    • the creation and improvement of infrastructure related to the development, adaptation and modernisation of agriculture;
    • the achievement of agri-environmental-climate objectives; and
    • the restoration of production potential damaged by natural disasters, adverse climatic events, animal diseases, plant pests and the prevention of damages caused by those events.

Further details on the State Aid requirements pertaining to these loans are provided at http://sbci.gov.ie.

State Aid

Details on the State Aid requirements pertaining to these loans are provided at http://sbci.gov.ie.

Summary of Excluded Activities from Agriculture Investment Loans

  • finance of specific export operations, or finance contingent upon the use of domestic over imported products. In particular, it should not apply to financing the establishment and operation of a distribution network in other States, or current expenditure linked to the export activity;
  • loans to support investments required to comply with EU standards in force;
  • loans to an undertaking which is subject to an outstanding recovery order following a previous Commission Decision declaring an aid illegal and incompatible with the internal market;
  • loans to undertakings in difficulty;
  • loans to support the purchase of production rights, payment entitlements and annual plants;
  • loans to support the planting of annual plants;
  • loans to support drainage works; and
  • loans to support the purchase of animals;
  • loans to acquire land.

Please refer to http://sbci.gov.ie for comprehensive detail on specific exclusions.

Apply for an SBCI Loan

Loans are offered to SME’s under the EU “De Minimis” and Agriculture Investment Loan (AIL) schemes.

SME’s (excluding agriculture and aquaculture) are assessed under the De Minimis scheme, whilst SME’s involved in the Agriculture Sector are assessed under the AIL scheme.

How to apply

Please forward the completed application form (below) by post to FEXCO Asset Finance at the address:

FEXCO Asset Finance
FEXCO Head Office
FEXCO Centre
Iveragh Road
Killorglin
Co. Kerry
Ireland.

Alternatively the completed application form may be scanned and emailed to fexcoassetfinance@fexco.com.

If you have any questions about eligibility please feel free to contact us by calling 1890 800 404.

If appropriate we would be happy to arrange a meeting with you in person to discuss our products and the potential benefits to your business should you be eligible for an SBCI funded loan.

The SBCI loan offer is subject to availability.  Standard lending criteria, terms and conditions apply.

Need more information on SBCI Loans?

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Our Asset Finance Team


Our experienced team understand the needs of businesses both large and small and we are available to discuss the various flexible funding solutions on offer from FEXCO Asset Finance. We know that asset finance has the power and flexibility to release the locked in value that your business needs to keep moving.

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