SBCI loans in Ireland: how they work and who qualifies

The Strategic Banking Corporation of Ireland is a State body that makes lower-cost, longer-term finance available to Irish SMEs, farmers, fishers and foresters. It does not lend to businesses directly. It works through participating banks and finance partners, and runs government-backed schemes such as the Growth and Sustainability Loan Scheme, delivered with the EIB Group and backed by the Departments of Enterprise, Tourism and Employment and of Agriculture, Food and the Marine.

The main one is the Growth and Sustainability Loan Scheme, open until 30 June 2029 or until fully subscribed. The SBCI also lists Green Transition Finance for larger green projects, micro-enterprise loans through Microfinance Ireland, invoice finance through Bibby Financial Services, and leasing and hire purchase through Fexco Asset Finance and Finór Finance. Older schemes, such as the Future Growth Loan Scheme and the Brexit Impact Loan Scheme, have closed.

In two steps. First, register on the SBCI Hub and complete the online Eligibility Application Form; if your business and purpose fit the scheme, the SBCI issues an eligibility code. Second, give that code to a participating lender with your credit application, and the lender assesses the loan under its own rules. Bank of Ireland takes online GSLS applications up to €500,000, and AIB has an online SBCI application form.

A code the SBCI issues once it confirms your business and loan purpose meet the scheme rules. It is valid for six months from issue, as long as the scheme stays open and funded, and you can use it with more than one participating lender. It is not a credit approval: the lender still makes its own decision. The SBCI support line is 1800 804482.

For the Growth and Sustainability Loan Scheme, the SBCI's own page lists AIB, Bank of Ireland and PTSB, which all reopened for applications after the 12 October 2026 expansion. The Government also named Close Brothers and Finance Ireland as participating lenders, expected to begin accepting applications in the coming weeks. Lenders can change, so check sbci.gov.ie for the current list before you apply.

Each participating lender sets its own rate, below its standard business pricing, and eligible climate and sustainability loans get an extra 0.25% discount. As an example, Bank of Ireland's representative GSLS rates as at 6 October 2026 ranged from 4.082% to 5.782% variable, depending on loan size and purpose. Your rate depends on the lender's credit assessment, so ask for the full rate, fees and total repayable in writing.

GSLS loans up to €500,000 are unsecured and generally come without a personal guarantee, subject to certain exceptions. Loans above €500,000 may need security, at the lender's discretion; any personal guarantee is capped at 20% of the loan. Unsecured does not mean risk-free: your company must still repay, and missed payments are reported to the Central Credit Register. Take independent legal advice before signing a guarantee.

Possibly, through a participating lender, but Welcome Finance does not arrange SBCI loans. The GSLS is open to viable SMEs that meet its rules, including farmers, fishers and foresters, and the SBCI's partner Microfinance Ireland lends €2,000 to €50,000 to sole traders, partnerships and companies with fewer than 10 staff that cannot get bank finance. Your Local Enterprise Office is a good first contact.

Ask the lender for its reasons in writing, and check whether you can appeal; our guide to bank refusals explains the options. Then look at a standard bank or green business loan, asset finance, Microfinance Ireland for micro-enterprises, or Local Enterprise Office and Enterprise Ireland supports. For shorter-term needs, our panel may be able to help with unsecured or working capital loans, usually at a higher cost.

No. Welcome Finance does not arrange SBCI loans, and we cannot issue eligibility codes. You apply directly to a participating lender after getting a code from the SBCI Hub. We are a commercial finance broker, not a lender, and are not regulated by the Central Bank of Ireland. If an SBCI loan does not suit, tell us what your company needs and we'll tell you honestly whether our panel can help, or where to apply instead.