Finance Ireland has become the first non-bank lender to join the Government's new €500m Growth and Sustainability Loan Scheme for Irish SMEs.
Finance Ireland said it will provide "competitively priced" loans from €25,000 for SMEs for terms of up to 10 years on an unsecured basis.
The loans are aimed at SMEs, including farmers, agribusinesses and fishing businesses, that are investing in growing their business, in making them more resilient or more sustainable, or in climate action.
The scheme is being operated by the Strategic Banking Corporation of Ireland, the State's lending institution for SMEs.
The founder and chief executive of Finance Ireland, Billy Kane, said that as the country's largest non-bank lender, it is committed to driving greater competition and choice for Irish SMEs.
"We are delighted to be the first non-bank lender to make the SBCI Growth and Sustainability Loan Scheme available to our customers," Mr Kane said.
"As Irish businesses invest to reduce their carbon emissions, this scheme will provide the vital support they require to support their environmental sustainability and growth initiatives with the benefit of longer-term financing options," he added.
The Minister for Enterprise, Trade and Employment Simon Coveney said Finance Ireland's competitively priced loans provide essential funding for SMEs who wish to avail of long-term finance to enable them to underpin future business sustainability, innovation, and productivity.
The Minister for Finance Michael McGrath said the inclusion of Finance Ireland in the scheme will further broaden access to this flagship scheme, which has a vital role to play in unlocking long-term, lower cost finance for SMEs in Ireland.
"Investments in SME growth and resilience, and in particular, in their contribution to our climate and environmental sustainability, are much needed to ensure Ireland's sustainable transition is realised throughout our communities and regions, and to further enable local economies to prosper," the Minister added.
The Minister for Agriculture Charlie McConalogue said he was glad to see that Finance Ireland will make loans available for both green and growth purposes under the scheme.
"Providing the necessary supports to assist with investment for future growth and environmental sustainability will assist the agri-food sector in continuing to be adaptable and resilient to current and future challenges," Mr McConalogue said.
"My department's funding of the GSLS will ensure the availability of long-term access to finance for our farmers, fishers, foresters, and food businesses," he added.
