New Fund for SMEs

30th November -0001

AIB and the EIB have announced a new €200 million fund for Irish SMEs throughout the country.

Under the five year scheme, which begins this month, AIB will pass on financial benefits of the low-cost EIB backed loans for investment projects across all sectors of business.

The funding can be used to finance both medium and long-term investment requirements. The funds are offered at a discounted default interest rate of AIB Standard Variable Business Loan Rate (currently 6.5%) minus 1.25%.

The maximum amount that can be borrowed is €300k, and terms may be negotiated from a minimum of 2 years to a maximum of 5 years, with the loan subject to repayment/refinance no later than May 7th 2018.

Owner/managers of an SME who wish to apply for an EIB loan should phone 1890 478 833, visit http://aib.ie/business or contact their local AIB branch for more information