If you have big plans for your small business, the SBCI can help you fund them.

The Strategic Banking Corporation of Ireland (SBCI) has launched its initial product programme to provide €400 million of low-cost, long-term funding to Irish SMEs.

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.

All of these elements create a more competitive and dynamic environment for SME funding. The SCBI is a vital new part of the country’s financial architecture. By taking a fresh approach to funding SMEs in Ireland, the long-term potential of the sector to drive economic growth and job creation will be actively supported.

The first phase of SBCI measures includes new, SME-friendly loan products available from 9 March through AIB and Bank of Ireland which will act as On-Lenders of low-cost funding provided to them by the SBCI. Using existing lenders for the first phase allows the SBCI to reach the widest range of SMEs as quickly as possible.

Subsequent phases will see the SBCI supporting smaller existing bank and non-bank funding providers and bringing in new participants to the Irish market to act as On-Lenders, enabling them to compete and grow. The SBCI product range will also expand further to include more targeted funding solutions.

For more information on the Strategic Banking Corporation of Ireland and how you can apply for innovative funding for your business, go to sbci.gov.ie