As a financial lending adviser, I would like to bring to your attention the new lending products available from the strategic banking corporation of Ireland(SBCI)
The loans will be made through SBCI lending partners , AIB and Bank of Ireland.
The eligibility criteria guidelines for the SME market are;
- Lower interest rates.
- Available for both investment and working capital purposes.
- Minimum loan maturity of 2 years.
- Loan amounts up to €5m.
- There may be flexibility in repayment schedule and on loan maturity of up to 10 years, but this is subject to the credit policies of AIB and Bank of Ireland.
SME QUALIFICATION CRITERIA
- Employs less than 250 employees.
- Has an annual turnover not exceeding €50m , and /or an annual balance sheet total not exceeding €43m.
- Independent , autonomous entity, i.e. not part of a wider group.
- Less than 25% of capital /voting rights held by public bodies.
- Significant presence in Ireland.
PURPOSE OF LOAN
- Purchase of machinery and equipment.
- Purchase of Business Premises( for own use)
- Working capital and stocking loan.
- Refinancing the loans of banks who have exited or are exiting the Irish market.
I hope this gives you a summary of the main criteria and full details can be got on the Strategic Banking Corporation of Ireland (SBCI) website