SBCI Future Growth Loan Scheme

Funding Capital Investment

Supporting SMEs including Primary Agri by providing access to low cost funding

SMEs & MidCaps Features & Benefits

The SBCI Future Growth Loan Scheme is offered by the Strategic Banking Corporation of Ireland (SBCI) with the support of the Department of Enterprise, Trade and Employment, the Department of Agriculture Food and the Marine, the European Investment Bank and the European Investment Fund.

The SBCI FGLS has been fully subscribed and is no longer available.

About the Loan

The SBCI Future Growth Loan Scheme (the ‘Scheme’) is designed to provide funding support to enable eligible Irish businesses to provide investment in their enterprise. The Scheme allows for the provision of a credit facility where you borrow a certain amount at a variable interest rate which is repayable over a certain term. The loans under the scheme are being made available with the benefit of a guarantee from the SBCI who in turn support with finance and/or support from the European Investment Fund, the Department of Enterprise, Trade and Employment and the Department of Agriculture Food and the Marine.


  • Loan amount minimum €25,000 up to a maximum of €3,000,000
  • Loan term of minimum 7 years up to maximum of 10 years.
  • Security may be required for amounts above €500,000.
  • Unsecured loans up to €500,000.
  • Option for interest only period, provided at the start of the loan.
  • Variable Interest rate with a Fixed Margin added to the bank Reference Rate1 over the term of the loan.
  • No charges will apply if repaid early.

Loans must be used for

  • (i) Growth Investment; – any investment allowing for the growth of Borrowers, including but not limited to investments in process and organisational innovation, or
  • (ii)Primary Agriculture Investment; investment in tangible and/or intangible assets linked to primary agriculture production, in which case the Borrowers shall be active in Primary Agriculture

Loans cannot be used for

  • Refinance of undertakings in financial difficulties.
  • Refinance of existing debt (e.g. Terms Loans/Leases/Hire Purchase etc.), where to do so would terminate existing loans or overdraft facilities prematurely
  • Certain restricted sectors – for more information , refer to
  • Refinance of existing Trade Finance products.
  • Finance of specific export operations.

Who can apply

Viable Micro, Small and Medium sized Enterprises (SMEs) and Small Mid-Cap enterprises that meet the eligibility criteria.

SMEs are defined by the Standard EU definition [Commission Recommendation 2003/361/EC] as enterprises that:

  • Have an annual turnover not exceeding €50 million and/or an annual balance sheet total not exceeding €43 million.
  • Are independent and autonomous i.e. not part of a wider group of enterprises.
  • Have less than 25% of their capital held by public bodies.
  • Is established and operating in the Republic of Ireland.

A Small Mid-Cap is an enterprise that is not an SME but has fewer than 500 employees.

For loan amounts greater than €250,000 an up to date business plan must be presented to support the loan application.

Who cannot apply

SMEs/Small Mid-Caps that:

  • Are in financial difficulty.
  • Are bankrupt or being wound up or having its affairs administered by the courts.
  • In the last 5 years have entered in to an arrangement with creditors, in the context of being bankrupt or wound-up or having its affairs administered by the courts.
  • Are convicted of an offense concerning professional misconduct by judgement, fraud, corruption, involvement in a criminal organisation, money laundering or any other illegal activity.


Representative example

An SBCI Future Growth Loan Scheme facility of €120,000 at a variable rate of 4.02% over an 8-year term will require 96-monthly repayments of €1,463.08. The total cost of credit is €22,455.68.

1The Reference Rate and Fixed Margin will be determined by the loan size.
For loans less than €250,000 the Small Business and Agri Rate (SBAR) will be applied with a Fixed Margin of 3.19%. For loans of or greater than €250,000 Bank Cost Of Funds (BCOF) will be applied with a Fixed Margin of 2.79%. Both Reference Rates are published daily here.
Bank of Ireland is not for responsible for information provided on third party websites.
Level of security required and rate applicable, will be determined by the amount, purpose & term of facility, in conjunction with the nature and value of the security being offered.
Over 18 years only. Lending criteria, and terms and conditions apply. Maximum credit of €120,000 available for online applications.
WARNING: The cost of your repayment may increase
WARNING: The entire amount that you have borrowed will still be outstanding at the end of the interest-only period
WARNING: If you do not meet the repayments on your credit facility agreement, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
Government of Ireland
European investment fund