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SBCI Information

Finór Finance, in partnership with the SBCI, offers asset finance at a competitive, discounted rate.
What the Strategic Banking Corporation of Ireland (SBCI) is

The SBCI is Ireland’s promotional financial institution, supporting SMEs through access to affordable, long-term finance.

Working with a network of lending partners, the SBCI improves access to Government and EU-backed funding, helping businesses grow, innovate, and secure low-cost finance when it matters most.

The SBCI facilitates 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.

A business entity qualifies as an independent Small Medium Enterprise (SME) if it meets each of the following criteria:

  • Less than 250 employees.
  • An annual turnover of less than €50m, and/or a balance sheet total less than €43m.
  • The enterprise is an independent, autonomous entity (or, if part of a wider group of enterprises, the entire group must qualify as an SME).
  • Less than 25% of capital voting rights held by public bodies.
  • The enterprise has a significant presence in Ireland.

Please refer to http://sbci.gov.ie for comprehensive detail on qualifying criteria.

The eligibility criteria for SBCI funding are:

  • SBCI Finance can be used for new long-term investment loans that are incurred in the development of an SME.
  • The finance amount is up to maximum finance amount of €500,000.
  • The minimum repayment term of an SBCI facility is 2 years and the maximum repayment term is 5 years.

Please refer to http://sbci.gov.ie for comprehensive detail on qualifying criteria.

The provision of funding for these facilities is being made under the De Minimis State Aid rules which allow for the provision of State Aid. SMEs may avail of De Minimis State Aid provided it does not exceed €300,000 in the previous 3-years  

In the case of certain loans, State Aid may arise by virtue of the discounted interest rate received by the SME on SBCI funding, and if so, the SME will be advised. It is important to note that the Aid is not the amount of the Finance.

Further details on the State Aid requirements pertaining to these loans are provided at http://sbci.gov.ie.

The following activities are excluded from SBCI Funding:

  • Loans to fund export-related activities towards third countries or other EU Member States (namely aid directly linked to the quantities exported), to the establishment and operation of a distribution network or to other current costs linked to export activity. Loans contingent upon the use of domestic over imported goods.
  • Finance of pure real estate development activity.
  • Finance of activities constituting pure financial transactions (e.g. purchase of shares).
  • Finance to undertakings in difficulty. Applicants must not be subject to collective insolvency proceedings nor fulfil the criteria under its domestic law for being placed in collective insolvency proceedings at the request of its creditors.
  • Finance of activities forbidden by national or EU law.
  • Agriculture (see specific SBCI Agricultural Investment Loan product), aquaculture and fisheries loans.

Please refer to http://sbci.gov.ie for comprehensive detail on qualifying criteria.

This loan is available to qualifying Agri SMEs and Farmers to support farm investment in agricultural machinery and facilities and investment in production and marketing.

The following are the eligibility criteria for an Agricultural Investment Loan:

  • Loan amount is a minimum of €25,000 up to a maximum loan amount of €500,000
  • The minimum loan term of the facility is 2 years and maximum repayment loan term is 5 years.
  • The borrower must submit a written loan application before work on the project or activity commences along with a list of costs. Loan amount must not exceed 1.5 times the amount of eligible costs Further detail on eligible and ineligible costs please refer to http://sbci.gov.ie.
    The aid intensity or total aid resulting from a loan shall not exceed 65% of the amount of the eligible costs.
  • Investments shall be in conformity with EU legislation and with Irish law on environmental protection under the Protection of the Environment Act 2003.
  • Loans may be advanced to support investments in tangible assets (excluding land) or intangible assets on agricultural holdings linked to primary agricultural production or in connecting with the processing of agricultural products and the marketing of agricultural products.
  • Where the loan is to support investments in tangible assets or intangible assets on agricultural holdings linked to primary agricultural production, the investment should pursue at least one of the following objectives:
    • The improvement of the overall performance and sustainability of the agricultural holding, in particular through a reduction of production costs or the improvement and re-deployment of production.
    • The improvement of the natural environment, hygiene conditions or animal welfare standards
    • The creation and improvement of infrastructure related to the development, adaptation, and modernisation of agriculture, including access to farm land, land consolidation and improvement, energy efficiency, the supply of sustainable energy and saving of water or energy.
    • The restoration of production potential damaged by natural disasters, adverse climatic events which van be assimilated to natural disasters, animal diseases, and plant pests, protected animals and the prevention of damages caused by those events and factors; if the damage can be linked to climate change, beneficiaries shall, where appropriate, include in the restoration adaption measures to climate change
    • Contributing to climate change mitigation and adaption, including by reducing greenhouse gas emissions and enhancing carbon sequestration, as well as promoting sustainable energy and energy efficiency.
    • Contributing to sustainable circular bioeconomy and fostering sustainable development and efficient management of natural resources such as water, soil and air, including by reducing chemical dependency.
    • Contributing to halting and reserving biodiversity loss, enhancing ecosystem services and preserving habitats and landscapes.

Further details on Agricultural Investment Loans are provided at http://sbci.gov.ie.

 

The following are excluded from Agricultural Investment Loans:

  • Loans to fund export-related activities towards third countries or other EU Member States (namely aid directly linked to the quantities exported), to the establishment and operation of a distribution network or to other current costs linked to export activity.
  • Loans contingent upon the use of domestic over imported goods.
  • Loans to an undertaking which is subject to an outstanding recovery order following a previous Commission Decision declaring an aid illegal and incompatible with the internal market
  • Loans to undertakings in difficulty.
  • Loans to support the purchase of payment entitlements
  • Loans to purchase and support the planting of annual plants.
  • Loans to support drainage works.
  • Loans to support the purchase of animals.
  • Loans to support wiring or cabling for data networks outside the private property.
  • Loans to acquire land.

Please refer to http://sbci.gov.ie for comprehensive detail on specific exclusions.

Contact us by phone on +35356 7706 551, email us on info@finorfinance.ie or complete the contact form and a member of our team will be in touch. 

If you have any questions about eligibility, please feel free to contact us on 056 7706551. We would be happy to arrange a meeting in person with you and/or to discuss our products further and the potential benefits to your business should you be eligible for an SBCI funded.