Dáil Éireann Debate, Tuesday - 30 September 2025
381. Deputy Emer Currie asked the Minister for Enterprise, Tourism and Employment the plans to provide a replacement for the growth and sustainability loan scheme after it expires on 30 June 2026; and if he will make a statement on the matter. [51703/25]
Amharc ar fhreagraThe €500 million Growth and Sustainability Loan Scheme, jointly developed by the Department of Enterprise, Tourism and Employment and the Department of Agriculture, Food and the Marine, is underpinned by a partial guarantee from the European Investment Bank Group and the Strategic Banking Corporation of Ireland (the SBCI). SBCI also operate the Scheme.
This scheme offers long-term loans ranging from €25,000 to €3 million, with terms of up to 10 years, to SMEs, farmers, fishers, and small mid-caps. Loans of up to €500,000 are available on an unsecured basis, making finance more accessible for SMEs.
A minimum of 30% of the scheme’s lending is targeted at environmental sustainability and climate action, with the remainder supporting productivity and competitiveness. Loans for climate-related purposes also benefit from an additional interest rate discount.
To date, 1,930 loans have been approved, totalling €432 million.
While the scheme remains open until June 2026 or until fully subscribed, some participating banks have paused new applications due to high demand and substantial pipelines of existing applications. Specifically, Bank of Ireland and PTSB are not currently accepting new applications as they process their existing pipeline, which is expected to bring them close to their allocation limits. AIB has paused applications for the growth element of the scheme but continues to accept applications for green and climate-related loans.
Non-bank lenders Finance Ireland and Close Brothers remain active participants and continue to accept new applications under the scheme.
Given the high demand, officials in the Department and Enterprise, Tourism and Employment and the Department of Agriculture, Food and the Marine are negotiating with the Strategic Banking Corporation of Ireland and the European Investment Banking Group to both extend the duration and expand the capacity of the Growth and Sustainability Loan Scheme to ensure continued access to finance for viable businesses. I plan to bring proposals to Government in the next three months.
The Department of Enterprise, Tourism and Employment remains committed to supporting Irish enterprises through targeted financial instruments that promote sustainability, competitiveness, and long-term resilience.
