There are 24 days left.
On 30 June 2026 — or earlier if the funding is fully subscribed — the Strategic Banking Corporation of Ireland's Growth and Sustainability Loan Scheme closes. €560 million in competitively priced, long-term government-backed lending for Irish SMEs, farmers and fishers will no longer be available under these terms.
For Irish businesses that need finance for growth, equipment, working capital or sustainability investment, this is the most significant funding deadline of 2026. And the window is closing faster than most business owners realise.
Here is everything you need to know — and exactly what to do in the next 24 days.
What the Scheme Actually Is
The Growth and Sustainability Loan Scheme — known as the GSLS — is a government-backed loan guarantee scheme jointly developed by the Department of Enterprise, Trade and Employment and the Department of Agriculture, Food and the Marine. It is delivered by the Strategic Banking Corporation of Ireland and underpinned by a guarantee from the European Investment Bank Group.
The scheme makes up to €560 million in lending available to eligible Irish SMEs and small mid-cap businesses. The €560 million capacity was established following a €200 million funding agreement signed between the SBCI and the European Investment Bank.
The key features are:
- Loan amounts: €25,000 to €3 million per business.
- Loan terms: Up to 10 years — providing genuinely long-term, stable financing rather than short-term overdraft or working capital facilities.
- Security: No security required on loans up to €500,000. Loans above €500,000 may be secured.
- Interest rates: Reduced from standard bank rates offered by participating lenders — with an additional 0.25 per cent discount available for businesses applying for climate action and environmental sustainability purposes.
- Moratorium: Capital and interest moratoria of up to 90 days are permitted within the scheme, providing breathing room in the early stages of investment.
The Critical Warning: Two Major Banks Have Already Paused
This is the detail that most business owners are not aware of — and it changes the urgency calculation significantly.
AIB, Bank of Ireland, Finance Ireland and PTSB have all paused accepting new loan applications under the scheme. Close Brothers remains open for both growth and resilience, and climate action and sustainability loan applications. With four of the five participating lenders now paused, the urgency to act is even greater than when this scheme was first announced.
PTSB and Finance Ireland remain open for applications — but with two of the main participating lenders no longer taking new applications and the scheme closing in 24 days, the practical window for accessing this funding is considerably narrower than the headline date of 30 June implies.
If you are considering applying, acting this week is not cautious — it is necessary.
What the Money Can Be Used For
The scheme funds two categories of investment.
Growth and Resilience loans are for long-term investment in the operational capacity and competitiveness of your business. Eligible uses include purchase of equipment and machinery, premises investment, working capital for expansion, technology upgrades, hiring and staff development, and investment in new product or market development.
Climate Action and Environmental Sustainability loans are for investment in reducing your business's environmental footprint. Eligible uses include energy efficiency measures, renewable energy installation, low-emission vehicles and equipment, and waste reduction and circular economy initiatives. These loans carry the additional 0.25 per cent interest rate reduction.
The scheme is not available for refinancing existing debt, financial investment, or activities in excluded sectors including real estate development, financial services and certain agricultural activities.
Who Is Eligible
Eligibility covers a broad range of Irish businesses.
SMEs — defined as businesses with fewer than 250 employees and annual turnover of €50 million or less, or a balance sheet of €43 million or less — are the primary target. Small mid-cap businesses with fewer than 500 employees are also eligible.
The scheme is explicitly available to farmers and fishers — a significant inclusion that extends access well beyond the traditional SME borrower profile.
Your business must be viable — demonstrating the ability to service the debt — and must not be in financial difficulty as defined under EU state aid rules. Standard credit assessment applies through your participating lender.
The Two-Step Application Process
The application process is straightforward but has two distinct stages that must be completed in sequence.
Step 1 — SBCI Hub Eligibility Application
Before approaching any lender, you must first register on the SBCI Hub at sbci.gov.ie and complete the online Eligibility Application Form. Once completed, eligible applicants receive an eligibility code. This code does not guarantee loan approval — it simply confirms that you meet the SBCI's eligibility criteria and can proceed to the credit application stage.
Step 2 — Lender Credit Application
With your eligibility code, you then approach one of the participating on-lenders — currently PTSB or Finance Ireland for new applications — and begin the standard credit assessment process. The lender will assess your application against their own credit criteria. Approval of the loan is ultimately at the lender's discretion.
The two-step process means that even if you begin today, there is processing time involved before a loan can be approved and drawn down. Starting the SBCI Hub eligibility application this weekend is the minimum required to have any realistic chance of accessing the scheme before it closes.
What This Scheme Is Worth to Your Business
The commercial value of the GSLS relative to standard market borrowing is significant and worth quantifying clearly.
For a business borrowing €500,000 over 10 years, the combination of reduced interest rates, the absence of security requirements and the long loan term — compared with a standard five-year secured business loan at market rates — represents a meaningful reduction in financing cost and a significant improvement in cash flow flexibility over the loan period.
For sustainability-focused investment, the additional 0.25 per cent rate discount adds further value — and positions the scheme as one of the most cost-effective financing routes available for businesses investing in energy efficiency, renewables or emissions reduction.
The Bottom Line
The SBCI Growth and Sustainability Loan Scheme has been one of the most accessible and commercially attractive funding mechanisms available to Irish SMEs since its launch. Its closing date of 30 June 2026 — or earlier if fully subscribed — is a hard deadline that cannot be extended by application or appeal.
Two of the main participating banks have already paused new applications. The remaining lenders are processing applications against a closing date less than four weeks away.
If your business needs finance for growth, equipment, sustainability investment or long-term working capital — and you have not yet explored this scheme — the time to act is not next week.
It is this weekend.
Start your SBCI Hub eligibility application at sbci.gov.ie.
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