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, or simply request a callback.


Business Funding for Covid-19 Recovery

Having access to business funding is critical for SME’s as the economy opens up again. Many SME owners are facing a variety of challenges re-opening in this new environment. Against this backdrop of uncertainty, business owners are trying to plan the best way forward. Many SME owners have no idea what their post-Covid-19 trading levels […]

Coronavirus: Fast business finance options for SMEs

Fast Access to Business Finance to help SMEs during Covid-19 crisis Access to business finance is crucial for many Irish SMEs right now.  Most Business Owners are facing severe challenges on many levels, as a result of coronavirus.  Having access to sufficient funding is vital, so Business Owners can deal with the immediate working capital […]

Export Finance – helping SMEs fund growth

Exporting is vital to the Irish economy and it appears that many Irish business owners have ambitious growth plans for 2017, including exporting to Europe and further afield. While exporting can open up a whole new world of opportunities for a business, it can also bring obstacles and challenges.  Business owners have to contend with language, distance, transport, delays, time zones and currency risk. What’s more, with […]

Supplier Finance – this “top up” funding has transformed our business…

“When we hit our bank funding limit, we thought we’d have to turn down orders…then we discovered Supplier Finance, which transformed our business”… When this Electronics Goods Importer  won a large order from a key customer, they approached their bank for additional finance to pay suppliers.  They already had bank finance including invoice discounting, overdraft and term loans.  It was then they realised they’d reached […]

Invoice Discounting for start-up business after bank says “no”

“When our bank couldn’t offer us Invoice Discounting, we didn’t realise there were other lenders willing to support us”. When the owners of a start-up confectionery business went to their bank for Invoice Discounting, it never occurred to them that they wouldn’t meet the banks’ lending criteria.   Although they were only trading six months, they had secured a contract to supply to a major buying group and there was […]

Stock Finance – ideal “top-up” funding for importers

Stock Finance can be an ideal option for Importers that have reached their limit with their bank and need “top-up” funding. This well established business imports and sells animal feed to Irish farmers .  With their busy season kicking off in March, they were keen to negotiate the best possible price with suppliers.   They needed working capital to negotiate substantial discounts for cash […]

Invoice Finance for SME declined by a bank

SME declined for invoice finance by bank….alternative funder steps in. This newly established company was formed in March 2015 when two lads  spotted an opportunity to import energy drinks  into Ireland.    Their products eventually got listed with a major supermarket chain in January, however this key customer  demanded 90 days credit.  They quickly realised they would need working capital to fund  the gap […]

Asset Based Funding to Irish SMEs hits an all-time high

Asset Based Funding to Irish SMEs hits an all-time high Asset based finance is finally gaining a foothold in the Irish market, with the news that asset based finance for UK and Irish businesses has hit a record high of £20 billion. A recent report from the Asset Based Finance Association (ABFA), the body that […]

Happiness is a positive cash flow….

Invoice Finance is positively good news I met a man at a yoga class about 10 years ago.  He stood out –  not because  he was the only male in the class,  but because he always wore a bright yellow tee-shirt with the slogan “Happiness is a positive cashflow….” Working as an Invoice Finance specialist, and listening to SME owners talking about their cash flow […]