Extra €50m for SMEs in SBCI funding phase

An additional €50m has been made available to SMEs as part of the State-backed Strategic Banking Corporation of Ireland’s second funding phase.

The announcement adds to the €400m of lower cost finance available to businesses through SBCI which is funded by the State, European Investment Bank, and German promotional bank KfW.

To date, some 1,600 companies have borrowed €45m through the fund’s first two partners, AIB and Bank of Ireland.