SBCI Loan Growth & Sustainability Loan Scheme reopens

The scheme’s return has been eagerly awaited. Irish SMEs should apply early or risk missing out.

Access to affordable, long-term capital is one of the biggest hurdles for growing Irish businesses. So we welcomed yesterday’s announcement, on 12th October 2026, that the Strategic Banking Corporation of Ireland (SBCI) have officially reopened and expanded the Growth and Sustainability Loan Scheme (GSLS).  

Backed by the Irish Government and the European Investment Bank (EIB) Group, this scheme provides competitive interest rates on long-term finance. Offering 80% state-backed loans up to €500k over up to seven years, crucially without personal guarantees, it provides accessible liquidity for Irish businesses.

Total lending capacity has been doubled to €1 billion and lending under the scheme has been extended until 30 June 2029 – but we strongly recommend businesses considering it act fast.  There are no personal guarantees needed for sums under €500k, and it will be oversubscribed.

If your business is thinking of applying, don’t wait around.

What can the SBCI loans be used for?

The scheme provides SMEs and Small Mid-Caps, including farmers, fishers and foresters, with long-term financing to either: encourage the growth and resilience of their enterprise or invest in climate action and environmental sustainability measures designed to improve their performance in terms of climate action and environmental sustainability. (sbci.gov.ie/products/growth-and-sustainability-loan-scheme)

The scheme has a strong green mandate, but many businesses are focusing on in long-term growth and productivity. Rather than tying up working capital to fund expansion, businesses can borrow between €25,000 and €3,000,000 over terms of 7 to 10 years.

Paul emphasises that timing and purpose are everything here: “If you’re looking at growth and expansion, the SBCI is a model I highly recommend… but if it’s shoring up debt, you can’t borrow debt on debt. It doesn’t work.”

These loans are long-term investments towards growth. Under the growth pillar, examples of loans allowed include the following purposes:

• Investments in tangible or intangible assets
• Machinery or equipment
• Research and development
• Business expansion
• Premises improvement
• Process innovation

The loans for climate action and environment sustainability are categorised under:

• Investment in green/sustainable measures
• Any investment by SMEs classified as a Green / Sustainable Enterprise
• Any investment by farmers classified as a holder of a Green Eco Label

The big draws: Favourable rates, no personal guarantees (under €500k)

Traditional commercial bank finance is often slow and restrictive. The GSLS  addresses this:

• Unsecured lending up to €500,000: No personal guarantees or tangible security are required for sums up to half a million euros.
• Capped guarantees above €500k: For loans exceeding €500,000, personal guarantees are capped at a maximum of 20% of the loan amount.
• Discounted interest rates: Participating lenders offer substantially lower interest rates compared to standard commercial bank facilities.

Why start SBCI applications now

Although the scheme is slated to run until June 2029, it operates on a first-come, first-served basis and will close early if fully drawn down.

As of October 2026, applications are officially open through AIB, Bank of Ireland, and PTSB. Non-bank lenders Finance Ireland and Close Brothers Asset Finance will begin taking applications in the coming weeks. Securing an SBCI eligibility code does not automatically guarantee credit approval; each participating lender applies strict credit and affordability checks.

Given the pent-up demand for capital we have seen across Ireland’s SME sector, it’s likely to be oversubscribed. Traditional banks remain cautious and slow,  so this scheme has been being eagerly awaited by companies; we have been working with several to prepare applications and documents in advance.