SBCI Covid-19 Working Capital Loan for Irish SMEs

With the Covid-19 crisis causing immediate financial challenges for SME’s,  having sufficient working capital is critical.     The Strategic Business Corporation of Ireland (SBCI ) has launched this scheme to help Irish SMEs access the vital cash flow they need to trade through the Covid-19 crisis and grow in the future.  Funding is provided via the SBCI’s online lending partners – AIB, BOI and Ulster Bank.

The key features of this flexible loan:

  • Loans range from €25K – €1.5M per applicant
  • Low interest rate – maximum 4% pa
  • Loans up to €500K are available on an unsecured basis
  • Flexible repayment terms – interest only options
  • Loan term from 1-3 years

Eligibility Criteria:

  • Qualify as a micro, SME or Small Mid-Cap Enterprise
  • Your business must have been materially affected by Covid 19 (profitability or turnover down a minimum of 15%)
  • Meet one of 11 criteria to demonstrate that your business is (in normal times) focused on growth and innovation
  • Have no previous credit issues
  • Employ less than 500 staff

Steps to apply for a loan:

  • Complete an online application form apply here
  • SBCI  issue eligibility letter to successful applicants
  • Prepare loan application pack including business plan
  • Engage with Bank and submit application for credit approval

How we can help

At Clancy Business Finance, we have vast experience sourcing and delivering SBCI funding for businesses. We know exactly what the Banks are looking for, and we have the expertise to help you with your loan application and guide you through the entire process, to ensure a swift and positive outcome to your application.

Given the immediate cash-flow challenges that SMEs are facing, we understand that timing is critical here.  With our knowledge and key Banking contacts, we can move quickly and ensure that all parties are on-board  to expediate loan approvals and drawdowns.

We expect this Scheme will be in demand and the loan may fill up quickly.  Working together, we can manage the entire application process on your behalf, to ensure funding can be in place quickly and with minimal hassle.

PHONE US NOW on 01 438 6462

If you would like to find out how we can help you with your SBCI Covid-19 Loan application, call us today, or email lucinda@clancybusiness.com, or simply request a callback.

lucinda

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