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€300 million Future Growth Loan Scheme for SMEs and Farmers open for applications

Thursday April 18th, 2019

Minister for Business, Enterprise and Innovation, Heather Humphreys TD, announced that the Future Growth Loan Scheme to allow for the roll out of €300 million in funding to eligible Irish SMEs including farmers is now open for applications. euros_2641760Sml

Businesses can apply for loan eligibility through the SBCI from today. Three finance providers have agreed to participate in the Scheme and negotiations are ongoing with another two.

Minister Humphreys said “The UK’s departure from the EU may have been delayed but investment in innovation and diversification remains important for business. This Scheme has been developed to address the lack of long term financing options on the marketplace. The low interest rate, and the fact that no collateral is needed for loans of less than €500,000 make this scheme a very attractive support for businesses who want to invest for their future. I strongly encourage firms to start the application process with SBCI. The process has been designed to be as simple as possible”.

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