Minister Burke and Minister Heydon announce expansion of the Growth and Sustainability Loan Scheme to €1 billion and extension to 2029

"I am pleased to deliver a major expansion of the Growth and Sustainability Loan Scheme, doubling the funding available to Irish businesses from €500 million to €1 billion. This significant increase responds to the ambition of Irish enterprise, with very strong demand for the scheme by SMEs to date. We are committed to backing Irish businesses and ensuring that SMEs have access to affordable, long-term finance so they can continue to invest, grow and compete at home and abroad.

"By increasing both the scale and duration of the scheme, we are giving businesses the confidence to make ambitious long-term investments, and seize new opportunities. This expansion will support enterprises in every region of the country to innovate, scale and future-proof their operations, while contributing to a more sustainable, competitive economy."

"I am delighted to see the expansion of the Growth and Sustainability Loan Scheme by another €500 million, bringing total funding to €1 billion. The success of the scheme and the continuing demand from businesses, especially in the agri-food sector, demonstrates the need for this type of longer-term, affordable investment finance, and this expansion will ensure that farmers, fishermen and women, foresters and food businesses, can access the finance they require to invest, adapt and grow for the future.

"The availability of unsecured loans up to €500k under the scheme, is critical to supporting investment in productivity, climate adaption, and environmental sustainability, helping businesses to become more resilient and deliver on our climate and food security ambitions, such as those set out in Food Vision 2030.

"The success of the first tranche reflects the strong collaboration between government, the Strategic Banking Corporation of Ireland, the European Investment Bank, and participating lenders and I am pleased that we can build on that success with a further €500 million in funding. I am confident the expansion of the GSLS will make a real difference to businesses seeking to future proof their enterprises while delivering more sustainable and environmentally conscious economic growth."

"Small businesses and retailers are at the heart of communities across Ireland, supporting employment and making an important contribution to our local and regional economies. Access to affordable, long-term finance can give these businesses the confidence to invest in their future, improve productivity and strengthen their competitiveness. The expansion of the Growth and Sustainability Loan Scheme will provide more SMEs with the opportunity to make the investments they need to grow and build resilience. Whether investing in new equipment, improving their premises or expanding their operations, this additional funding will help businesses across the country to plan for the long term, support sustainable jobs and seize new opportunities."

"Digital transformation and innovation are increasingly important to the productivity and competitiveness of Irish businesses. For SMEs in particular, investing in technology and new ways of working can help them become more efficient, strengthen their resilience and position themselves to take advantage of new opportunities. The expansion of the Growth and Sustainability Loan Scheme will give more businesses access to the long-term finance needed to make strategic investments in their future. I want to see businesses across Ireland embracing innovation and digital technologies, including the opportunities presented by AI, so that they are well positioned to compete, grow and succeed in an increasingly digital economy."

"The inclusion of recipients of the Bord Iascaigh Mhara Young Fisher Scheme grant in the expanded Growth and Sustainability Loan Scheme will provide new entrants to fisheries with greater flexibility in accessing finance alongside their grant support. Importantly, the loan can help bridge the gap between receiving grant approval and having the upfront finance needed to invest in a vessel, helping young fisher men and women get established and progress their plans more quickly. This is a practical step in supporting generational renewal in our fishing industry, reducing financial barriers for new entrants, and helping to build a strong and sustainable future for Ireland’s marine sector."

"Access to longer-term finance such as that delivered through the increased €1 billion Growth and Sustainability Loan Scheme provides important funding opportunities for businesses across Ireland’s forestry and horticulture sectors. It will enable them to invest in necessary equipment, infrastructure, technology and innovation to improve efficiency and strengthen their resilience. The scheme provides an additional opportunity for forestry and horticulture businesses to invest with confidence and plan for the future. The availability of unsecured funding up to €500,000, can deliver particular benefits in encouraging young men and women, and new entrants into both sectors, supporting objectives for greater gender balance and generational renewal."

"This is a major boost for Irish enterprise. Increasing the scheme to €1 billion means more businesses across Ireland can turn ambition into investment—expanding, innovating, cutting emissions and building resilience. Through the EIB Group’s partnership with the Irish Government, SBCI and participating lenders, the EIB and EIF are helping ensure that finance reaches the businesses and communities driving Ireland’s next phase of sustainable growth."

"We’re seeing strong demand for the Growth and Sustainability Loan Scheme and this shows the ambition and confidence that Irish SMEs and agri-businesses have to invest in their future. By increasing the scheme’s lending capacity to €1bn, we can support even more SMEs across Ireland to invest in growth, enhance productivity, strengthen competitiveness and advance their sustainability ambitions.

"As Ireland's National Promotional Institution, the SBCI works to address financing gaps and improve access to finance for SMEs. This extension demonstrates the impact that strong partnerships between the SBCI, government departments, the EIB Group and lenders can deliver for Irish businesses, local communities and the wider economy."

"AIB is delighted to continue our partnership with the SBCI and make a further tranche of funding available under the Growth and Sustainability Loan Scheme. Eligible borrowers can access affordable long-term finance, including unsecured loans of up to €500,000, to support investment in business growth, resilience and environmental sustainability. The application is straightforward, and customers can apply using our SBCI lending form which is available on aib.ie/sbcigrowth."

"Bank of Ireland is delighted to participate in the second phase of the Growth and Sustainability Loan Scheme that will provide businesses with access to low-cost, long-term finance for growth and sustainability investments. Supporting Irish SMEs to invest and innovate is critical to grow the Irish economy and boost national economic resilience. I would encourage all SMEs to explore how this scheme can help them achieve their growth and sustainability ambitions."

"PTSB is pleased to partner with SBCI on the expansion of the Growth and Sustainability Loan Scheme to €1 billion and extension to 2029 to provide SMEs with long-term, competitively priced finance.

"We know that businesses are increasingly recognising the commercial opportunities presented by the transition to a more sustainable economy, in addition to the importance of reducing their environmental impact. Through this partnership, we want to enable SMEs to access the funding they need to grow sustainably and support the Irish economy."