My Department has worked with the Strategic Banking Corporation of Ireland (SBCI) to deliver a number of loan schemes that support SMEs in Ireland, including farmers, fishers and food businesses.
As requested, below is a table of the interest rates associated with each of the loan schemes. Loan interest rates vary between participating lenders, but from maximum standard rates.
Loan Scheme
|
Interest Rate
|
Agriculture Cash flow Support Loan Scheme (ACSLS)
|
2.95% fixed rate
|
Future Growth Loan Scheme (FGLS)
|
4.5% for loans < €250,000
3.5% for loans > €250,000
|
SBCI Working Capital Scheme (SBCI WCS) (comprising the Brexit Loan Scheme (BLS) and COVID-19 Working Capital Scheme (CWCS)
|
4% or less
|
Brexit Impact Loan Scheme (BILS) (incorporating the COVID-19 Loan Scheme (CLS))
|
Reflecting the risk profile of the loan, there is a hybrid approach to pricing with both a capped and discounted methodology employed.
Discounted Approach: 15% of the scheme with a minimum discount of 1%.
Capped Approach: 85% of the scheme:
- Maximum loan interest rate of 3.7% on loans < €250,000
- Maximum loan interest rate of 2.75% on loans > €250,000
|
COVID-19 Credit Guarantee Scheme
|
The interest rate charged to the participating enterprise reflects the risk profile of the loan - see below.
|
The latest position on the COVID-19 Credit Guarantee Scheme(31/08/2022) indicates interest rates applied to loans approved to date as follows:
Interest Rate
|
Number of Loans
|
2.00% - 2.49%
|
113
|
2.50% - 2.99%
|
8,995
|
3.00% - 3.49%
|
58
|
3.50% - 3.99%
|
82
|
4.00% & greater
|
599
|
Total
|
9,847
|