The Future Growth Loan Scheme is offered by the Strategic Banking Corporation of Ireland  (SBCI)  with the support of the Department of Business Enterprise and Innovation, the Department of Agriculture Food & Marine, the European Investment Bank and the European Investment Fund. The Future Growth Loan Scheme benefits from a guarantee from the European Union under the European Fund for Strategic Investments (EFSI)

Loan Features

  • Loan amounts from €100,000 to a maximum of €3,000,000 per applicant

  • Initial maximum loan interest rate of 4.5% for loans < €250,000 and 3.5% for loans >= €250,000. Variable interest rates are subject to change

  • Loan terms ranging from 8 to 10 years

  • Unsecured loans up to €500,000

  • Optional interest-only repayments available in certain circumstances

An “Applicant” is an SME or small Mid-Cap that applies for a loan under the FGLS. Applicants for loans greater than €250,000 must submit a business plan to the relevant Financial Institution.

Loan Purpose

Loans can be used for long term investment. 

Applicants must choose one of the below loan purposes:

  • Investment in Machinery or Equipment

  • Investment in Research and Development

  • Investment in Business Expansion

  • Investment in Premises Improvement

  • Investment in Process Innovation

  • Investment in People and/or Systems

Who can apply

Applicants must be viable micro, small and medium sized enterprises (SMEs) and Small Mid-Cap enterprises.

An SME is defined by the Standard EU definition [Commission Regulation 2003/361/EC] as an enterprise that:

  • has fewer than 250 employees

  • has a turnover of €50 million or less (or €43 million or less on their balance sheet)

  • is independent and autonomous i.e. not part of a wider group of enterprises

  • has less than 25% of their capital held by public bodies

  • is established and operating in the Republic of Ireland

A Small Mid-Cap is an enterprise that is not an SME and has fewer than 500 employees.

For further information please contact Kara Mahon at



Recent Posts