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Growth Loan Fund


Eligibility Criteria

  • must be an SME based in Northern Ireland which can demonstrate growth potential and generally be in the manufacturing, engineering or tradable services sectors with export potential;
  • companies must be able to demonstrate ability to service loan repayments from projected cashflows;
  • applicants cannot operate in the excluded sectors, such as coal mining, steel making, shipbuilding, as defined by the EU Risk Capital guidelines or be a company in an insolvency process;
  • must be an identified funding gap in a proposed investment (applicants must have tried and been unable to raise all required funding from banks/financial institutions);
  • investment cannot breach State Aid Block exemption and must take account of other ‘State Aid’ receipts or offers such as grants;
  • informal approaches over the telephone are welcomed to discuss the loan proposal, but in due course a business plan will be required to progress a loan application.

What We Do

  • provide loans to established SME companies seeking access to growth finance. Whilst a positive trading history is desirable, where this is not evident businesses should be able to demonstrate a recent return to profitability with a clear plan to build on this;
  • loans will be between £50k and £500k per transaction, over a maximum 5 years with repayments on monthly amortising basis (ie capital and interest);
  • loans will be typically unsecured and personal guarantees will not be sought;
  • pricing will depend on risk assessment of each company but current expectations are of interest rates of between 6-14% (including cost of funds), plus an additional small profit share arrangement (paid annually based on net profits);
  • loans provided are expected to be complementary to existing sources of finance including banks, trade finance sources and equity investors.

What We Don’t Do

  • provide grant finance or ‘soft’ loans – loans are provided on commercial terms;
  • provide start up capital for new companies;
  • fund MBO/MBI or merger/acquisition transaction funding to effect change in ownership however we can provide post transaction working capital funding;
  • provide funding to refinance existing bank debt.

Meet the investment team

Meet the team
Meet the team

I wish to complete a company application form