On 12 October 2026, Minister for Enterprise, Tourism and Employment Peter Burke and Minister for Agriculture, Food and the Marine Martin Heydon announced that the Growth and Sustainability Loan Scheme (GSLSA State-backed SBCI scheme offering loans of €25,000 to €3 million over seven to 10 years through participating lenders, for long-term growth, resilience or climate action projects.) would double from €500 million to €1 billion. The scheme is extended to 30 June 2029, or until it is fully subscribed if that happens first.
The GSLS is delivered by the Strategic Banking Corporation of IrelandA State-owned body that makes low-cost funding and loan guarantees available to Irish SMEs, farmers and fishers through participating banks and non-bank finance providers. (SBCI) with a guarantee from the European Investment Bank Group. DETE said the original €500 million had been substantially deployed, and 1,972 businesses had been supported by the end of June 2026. Here is what the expansion means. For how the scheme works in full, see our Growth and Sustainability Loan Scheme guide, and for all SBCI schemes, our SBCI loans page.
GSLS key terms after the expansion
- Loan size: €25,000 to €3 million per borrower, subject to State aidEU rules limit how much help a government can give a business. limits.
- Term: 7 to 10 years, with final maturity no later than 30 June 2039.
- Security: loans up to €500,000 are generally unsecured, subject to certain exceptions.
- Personal guarantees: loans above €500,000 may need security, at the lender's discretion; any personal guaranteeA legally binding promise by a director or other individual to repay a company's debt if the company cannot. is capped at 20% of the loan.
- Green lending: at least 30% of lending is for environmental sustainability, and eligible climate loans get an extra 0.25% interest discount.
- Purpose: long-term projects such as machinery, equipment, R&D, expansion, premises improvements or energy upgrades. Refinancing existing loans is not allowed.
Who can apply?
Eligibility has not changed: SMEs and small mid-caps operating in Ireland, including farmers, fishers and foresters, that are economically viable and not mainly in an excluded sector. Our GSLS guide sets out the full criteria and the excluded sectors.
What changes with the €1 billion GSLS?
The core change is capacity and time. Doubling the fund to €1 billion and extending the window to mid-2029 means more companies can apply over a longer period. DETE's Budget 2027 release said the department has committed €63 million over three years to support the expanded scheme.
The participating lenders are AIB, Bank of Ireland and PTSB, with Close Brothers and Finance Ireland due to start taking applications (announced 12 October 2026). The SBCI website’s GSLS page listed AIB, Bank of Ireland and PTSB when we checked on 21 October 2026, so confirm with each lender whether it is taking applications.
What does it mean for Irish limited companies?
If your company is planning a long-term project, GSLS is worth checking before you commit to other finance. Terms of seven to ten years keep repayments lower, and loans up to €500,000 generally do not need security. Each lender still makes its own credit decision and sets its own rate, so an eligibility code is not an approval.
Illustrative example: a company borrowing €400,000 for new equipment would generally not need to give security, because the loan is under the €500,000 threshold. If it borrowed €800,000 instead, the lender could ask for security, and any personal guarantee would be capped at €160,000, which is 20% of the loan.
GSLS is not designed for every need. It cannot refinance existing debt, and it is a term loan, not an overdraft or revolving facility. If you want to restructure borrowing, read our guide to refinancing or consolidating company debt.
How do you apply?
- Get an eligibility code through the SBCI Hub. It is valid for six months while the scheme is open and funded.
- Prepare your documents. Our document checklist helps.
- Apply directly to a participating lender with your code.
- If a participating bank refuses, use its internal appeal. AIB, Bank of Ireland and PTSB decisions can then go to the Credit Review ServiceAn independent statutory body, established on 1 July 2026 under the Credit Review Act 2026, that reviews bank lending decisions for SMEs and farmers, such as decisions by AIB, Bank of Ireland and PTSB on credit of €1,000 to €3 million that has been refused, reduced or withdrawn..
For energy projects, our guide to funding energy upgrades with SEAI grants, ACA and green loans explains how a GSLS loan can sit alongside grants. Our full GSLS guide covers eligibility and excluded sectors in depth.
How Welcome Finance can help
Welcome Finance does not arrange SBCI or GSLS loans and does not work with the participating lenders; you apply to them directly. If GSLS does not fit your company's need, our panel can consider unsecured business loans and working capital loans, which usually cost more than State-backed lending. Approval is never guaranteed. Welcome Finance is a commercial finance broker, not a lender, is not regulated by the Central Bank of IrelandIreland's financial regulator and part of the Eurosystem., and arranges business-purpose finance only for companies registered in Ireland (LTD, DACA type of Irish private company under Part 16 of the Companies Act 2014 that keeps an objects clause in its constitution, limiting what it can do, and uses the suffix DAC., PLCA company type under Part 17 of the Companies Act 2014., ULCA company under Part 19 of the Companies Act 2014 whose members have unlimited liability for its debts.).