Key Takeaway
The Irish Government has expanded the Growth and Sustainability Loan Scheme to €1 billion, providing eligible businesses with greater access to long-term investment finance. With loans ranging from €25,000 to €3 million, the scheme aims to support business expansion, innovation and sustainability projects across Ireland.
New Funding Opportunity for Irish Businesses
Irish businesses looking to invest in their future have received a significant funding boost following the Government’s announcement on 12 October 2026.
The Growth and Sustainability Loan Scheme in Ireland has been expanded from €500 million to €1 billion, with its availability extended until 30 June 2029, or until the scheme is fully subscribed.
Managed by the Strategic Banking Corporation of Ireland (SBCI), the scheme provides eligible small and medium-sized enterprises (SMEs) with access to longer-term finance for investment in business development, technology, equipment and sustainable operations.
According to the Department of Enterprise, Tourism and Employment, the original scheme has already supported almost 2,000 businesses across Ireland.
What Is the Growth and Sustainability Loan Scheme?
The scheme is a Government-backed financing initiative designed to help eligible businesses make long-term investments.
Unlike a grant, the funding is provided through repayable loans from participating finance providers.
Its main features include:
- Loan amounts: €25,000 to €3 million.
- Repayment terms: Seven to ten years.
- Security: Loans up to €500,000 can be unsecured, subject to conditions.
- Interest rates: Discounted rates compared with equivalent standard commercial loans, with additional discounts available for qualifying environmental investments.
- Availability: Until 30 June 2029, or earlier if fully subscribed.
Individual lending decisions remain subject to the participating lender’s credit assessment and the scheme’s eligibility requirements.
What Can Businesses Use the Funding For?
The scheme supports several types of long-term business investment.
Business Expansion
Eligible businesses may use funding to expand operations, invest in additional equipment or develop new opportunities.
Technology and Innovation
Investment in digital systems, research and development, process improvements and new technologies may qualify under the scheme.
Premises Improvements
Funding may support qualifying improvements to existing business premises, equipment and infrastructure.
Environmental Sustainability
Businesses investing in energy efficiency, renewable energy or other qualifying environmental measures may benefit from additional interest rate discounts.
The specific investment must meet the scheme’s rules. Full details are available on the SBCI Growth and Sustainability Loan Scheme page.
Who Can Apply?
The scheme is available to eligible SMEs and small mid-cap businesses operating in Ireland, including qualifying enterprises in agriculture, forestry and fisheries.
Applicants must meet the relevant business and investment criteria.
Businesses should also be aware that receiving an eligibility code from the SBCI does not guarantee loan approval. Each finance provider makes its own lending decision.
How to Apply for the Scheme
The application process involves three main steps:
Step 1: Check eligibility
Businesses register or log in through the SBCI Hub and complete the online eligibility assessment.
Step 2: Receive an eligibility code
Applicants who meet the scheme’s eligibility requirements receive a code to present to a participating finance provider.
Step 3: Apply through a lender
The business submits its loan application to a participating lender, which assesses the request under its credit policies.
Following the October announcement, AIB, Bank of Ireland and PTSB reopened applications. Close Brothers and Finance Ireland are also participating providers, with application availability to be confirmed directly with each lender.
Businesses can find current information and begin their eligibility assessment through the official SBCI website.
Supporting Business Growth Beyond Funding
Access to finance is one part of developing a business. Companies investing in expansion may also need suitable premises, professional facilities or additional administrative support.
At Sky Business Centres, our serviced offices provide furnished office space across three Dublin locations, while our virtual office services help businesses maintain a professional presence without requiring permanent physical workspace.
These services are separate from the Government loan scheme, but can support businesses as their operational requirements develop.
A Longer-Term Opportunity for Irish SMEs
The expansion of the Growth and Sustainability Loan Scheme reflects continued demand for investment finance among Irish businesses.
With an additional €500 million in lending capacity, eligible enterprises have an opportunity to explore funding for projects that could improve productivity, competitiveness and long-term sustainability.
Businesses considering an application should review the scheme’s criteria, assess their proposed investment and compare the lending terms available.
For the latest eligibility requirements and application details, visit the Strategic Banking Corporation of Ireland.
Frequently Asked Questions
Is the Growth and Sustainability Loan Scheme a grant?
No. The scheme provides repayable business loans rather than grants. Applications are subject to eligibility checks and lender approval.
How much can an Irish business borrow?
Eligible applicants may apply for loans ranging from €25,000 to €3 million, subject to scheme conditions and credit approval.
Can small businesses apply for unsecured loans?
Yes. Loans up to €500,000 can be unsecured, subject to certain exceptions and the participating lender’s requirements.
When does the Growth and Sustainability Loan Scheme close?
The scheme is scheduled to remain available until 30 June 2029, or until its funding capacity is fully subscribed, whichever happens first.
