What is the Brexit Loan Impact Scheme?
The SBCI Brexit Impact Loan Scheme is offered in partnership with the Department Enterprise, Trade and Employment (DETE), the Department of Agriculture, Food and the Marine (DAFM), the European Investment Fund (EIF) and the European Investment Bank (EIB).
Who can apply for the Brexit Loan Impact Scheme ?
Viable micro-, small and medium-sized enterprises (SMEs) and Small Mid-Cap enterprises that meet the eligibility criteria.
SMEs are defined by the standard EU definition contained in Commission Recommendation 2003/361/EC as enterprises that:
- have fewer than 250 employees;
- have a turnover of €50 million or less (or €43 million or less on their balance sheet);
- are independent and autonomous, i.e. not part of a wider group of enterprises;
- have less than 25% of their capital held by public bodies.
- is established and operating in the Republic of Ireland.
A Small Mid-Cap is an enterprise that is not an SME but has fewer than 500 employees.
Eligibility:
SMEs/Small Mid-Caps must satisfy one of the following Brexit criteria.
- Export products, services or raw materials to the UK (including Northern Ireland) equating to at least 15% of business turnover.
- Import products, services or raw materials from the UK (including Northern Ireland) equating to at least 15% of business turnover.
- The combined exposure (of 1 and 2 above) equates to at least 15% of business turnover.
- The business is indirectly exposed to the UK (including Northern Ireland), i.e. transacts products, services or raw materials with an enterprise that is directly exposed to the UK (including Northern Ireland) equating to at least 15% of turnover.
