SBCI – Brexit Impact Loan Scheme

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SBCI – Brexit Impact Loan Scheme

At Permanent tsb we are here to provide opportunities for your business to unlock potential and grow.

That’s why we have partnered with the Strategic Banking Corporation of Ireland (SBCI) to provide the Brexit Impact Loan Scheme (BILS).

The Brexit Impact Loan Scheme supports qualifying viable Irish businesses and primary producers (Agriculture/Fishing) by providing access to affordable medium-term finance, enabling them to invest in their business.

The scheme will run for a limited period or until it is fully subscribed.

Loan Purpose:

The Brexit Impact Loan Scheme is designed to help address the economic impact of Covid-19 initially

on those businesses that have been impacted by Brexit.

Loans can be used for:

v Working capital and investment loans to support SMEs and Small Mid-Caps (including primary producers) impacted primarily by Brexit;

 

Scheme Features:

v Loan amounts from €25,000 to a maximum of €1,500,000 per borrower (loan amounts are dependent on aid intensity and State aid thresholds)

v Loan terms of between 1 year and up to 6 years (loan terms are dependent on the purpose of the loan).

v Loans are unsecured up to and including €500,000.

v Amounts greater than €500,000 may be secured;

 

Eligibility criteria:

SMEs and Small Mid-Caps must satisfy one of the following Brexit criteria:

v Export products, services or raw materials to the UK (including Northern Ireland) equating to at least 15% of business turnover.

v Import products, services or raw materials from the UK (including Northern Ireland) equating to at least 15% of business turnover.

v The combined exposure (of 1 and 2 above) equates to at least 15% of business turnover.

v The business is indirectly exposed to the UK (including Northern Ireland), i.e. transacts products, services or raw materials with an enterprise that is directly exposed to the UK (including Northern Ireland) equating to at least 15% of turnover.

 

For more information about the features and eligibility criteria of the scheme please visit the SBCI

Brexit Impact Loan Scheme at https://sbci.gov.ie/products/brexit-impact-loanscheme bils/

How To Apply:

Step 1:

Submit an online Eligibility Application Form to the SBCI to check if your business is eligible for the Scheme. If the SBCI determines that you are eligible for BILS, you will be notified in writing and receive an eligibility letter with a reference number (eligibility code). (Typically this is an email confirmation from SBCI).

Link to the application form is: https://sbci.gov.ie/products/brexit-impact-loan-scheme/smes-application-form

Step 2:

Call and make an appointment with Permanent TSB to discuss in more detail or make an enquiry to

Lorraine Foley Mobile: 087 3811411

Business Development Manager

Email: Lorraine.foley@permanenttsb.ie

Mullingar Branch Manager

Louise Elliffe Mobile: 087 7166107

Email Louise.elliffe@permanenttsb.ie