Irish businesses have a renewed route to long-term investment finance after the Government announced an expansion of the Growth and Sustainability Loan Scheme on 12 October. Its lending capacity rises from €500 million to €1 billion, and its availability period extends to 30 June 2029. [1]

The practical change is access to another tranche of lending. For a firm considering equipment, premises improvements or a sustainability project, the next task is to establish whether the proposed investment fits the scheme and whether a lender will approve it.

Which application routes have reopened?

The Department of Enterprise says AIB, Bank of Ireland and PTSB have reopened for new applications following the announcement. It lists Close Brothers and Finance Ireland as the other participating providers, with their new applications expected to open in the coming weeks. [1]

Those dates are worth checking with the provider itself. The announcement does not mean every participating lender is accepting a new application today.

Two decisions, rather than one approval

The SBCI sets out a two-stage process. An applicant first completes an eligibility application through the SBCI Hub. A successful assessment produces an eligibility code, which is then submitted to a participating lender as part of the credit application. The code does not guarantee a loan: the lender applies its own credit criteria. [2]

Keep those stages separate in your planning. Receiving a code is not a reason to treat an equipment order or other spending commitment as funded. Ask the lender what information it needs and when a credit decision can be expected.

Check the investment and the repayment period together

SBCI describes loans from €25,000 to €3 million, with terms of seven to ten years. They fund long-term investment in business growth and resilience, or climate action and environmental sustainability. Existing debt cannot be refinanced through the scheme. Availability ends when the funding is fully subscribed if that happens before June 2029. [2]

A useful preparation sheet can put the project description, supplier estimate, planned timing and requested finance in one place. Keep a separate space for the lender’s quoted rate, fees, repayment schedule and conditions, so the cost of a loan is assessed alongside the purchase it would support.

The expansion provides lending capacity, rather than a grant or a promise of approval for any particular business. Confirm eligibility and terms with SBCI and the chosen lender before proceeding. This article explains the public scheme and application sequence; it does not recommend borrowing or assess an individual firm’s ability to repay.

Sources were checked on 12 October 2026.