The State-backed Strategic Banking Corporation of Ireland (SBCI) has announced its second phase of new funding for small and medium-sized businesses with a €50 million equipment, machinery and vehicle finance programme.
Specialist lender Finance Ireland is to act as co-lender for the programme, which follows on from the SBCI’s initial scheme, which has seen some €400 million in low-cost, long-terms loans made available to SMEs through AIB and Bank of Ireland.
The new programme includes low-cost leasing, hire purchase and rental agreement option. It is available to companies which employer fewer than 250 people and have an annual turnover of less than €50 million and/or an annual balance sheet total of less than €43 million.
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