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Future Growth Loan Scheme (Closed)

The Future Growth Loan Scheme provides long term funding for SMEs and small mid-cap enterprises.

With a Future Growth Loan from Close Brothers you could borrow up to €3m on top of your finance facility, to fund long term investments such as business expansion, investment in property, machinery or equipment, R&D or people and systems.

The Future Growth Loan Scheme is now closed to new applications.

SBCI logo

What is the SBCI Future Growth Loan Scheme?

The Future Growth Loan Scheme is a long-term loan (7-10 years) that is offered by Close Brothers in partnership with the Strategic Banking Corporation of Ireland (SBCI), with the support of the Department of Enterprise, Trade and Employment, the Department of Agriculture, Food and the Marine, the European Investment Bank and the European Investment Fund (EIF). 

The loan scheme is available to new and existing borrowers, subject to eligibility and satisfaction of lending criteria.

FGLS specifications:

  • Loan amount of between €25,000 and €3,000,000
  • Initial maximum loan interest rate of 4.5% per annum for loans < €250,000, and 3.5% for loans > = €250,000. Variable interest rates are subject to change
  • Terms from 7 to 10 years
  • Loans unsecured up to €500,000
  • Optional interest-only repayments may be available at the start of the loans, subject to credit approval

What can the loan be used for?

Long term investment in: business expansion, premises improvement, machinery or equipment, research and development, process innovation, people and/or systems.

Activities below are excluded for loan purposes:

  • Finance of specific export operations, or finance contingent upon the use of domestic over imported products. 
  • Finance of pure real estate development activity
  • Finance of activities constituting pure financial transactions (e.g. purchase of shares)
  • Loans to undertakings in difficulty
  • Finance of activities forbidden by national or EU law
  • Refinance to reschedule existing loan or completed project
  • Aid for the acquisition of road freight transport vehicles by undertakings performing road freight transport for hire or reward
FGSL explained

How do I apply?

  1. Complete the Eligibility Application form from the SBCI to check if you are eligible to apply for a loan under the scheme (see below)
  2. Eligible SMEs will receive a confirmation letter from SBCI with a unique code that you will need to present as part of the credit application process, along with an up-to-date business plan
  3. If you are an existing Close Brothers Commercial Finance customer, please contact your account manager who will be able to inform you about the remaining application process.

If you are a new customer please call +353 1 699 4131 to speak to one of our funding specialists or complete the form below and one of our advisers will get back to you.

The Future Growth Loan Scheme is now closed to new applications.

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Close Brothers Commercial Finance
Swift Square | Building 1
Santry Demesne
North Wood
Dublin 9
D09 A0E4

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ROI: (01) 871 1060

NI: 028 9344 1410

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