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Growth and Sustainability Loan Scheme (GSLS)

The Growth and Resilience Loan is currently paused for new applicants. However, we are still accepting applications for the Climate Action and Environmental Sustainability Loan.

At PTSB we are here to provide opportunities for your business to unlock potential and grow. That’s why we have partnered with the Strategic Banking Corporation of Ireland (SBCI) to provide the Growth and Sustainability Loan Scheme (GSLS).

What is the Growth and Sustainability Loan Scheme?

The Growth and Sustainability Loan Scheme (GSLS) is a long-term, low-cost scheme to support eligible businesses, including farmers and fishers, when investing in their growth and resilience or climate action and environmental sustainability.

The Scheme will operate until 30 June 2026, or until the scheme has been fully subscribed (whichever is earlier).

The GSLS Scheme is established and offered by the Strategic Banking Corporation of Ireland (SBCI) and benefits from a guarantee that has been provided by the European Investment Bank Group (EIB), with support from the Department of Enterprise, Trade and Employment (DETE) and the Department of Agriculture, Food and the Marine (DAFM).

The Purpose of the GSLS Scheme

The scheme provides SMEs and Small Mid-Caps, including farmers and fishers, with long-term financing to either:

  • Encourage the growth and resilience of their enterprise or;
  • Invest in climate action and environmental sustainability measures designed to improve their performance.

Loans for Growth and Resilience

These loans are long-term investments towards the growth and resilience of the enterprise. Loans will be allowed – subject to certain conditions - for, but not limited to, the following purposes:

  • Investments in tangible or intangible assets.
  • Machinery or equipment (like agricultural machinery).
  • Automation and control technology (like smart metres).
  • Research and development.
  • Business expansion.
  • Premises improvement.
  • Process innovation.

 

 

Loans for Climate Action and Environmental Sustainability

These loans are long-term investments towards climate action and environment sustainability. Businesses wishing to invest in climate action and environmental sustainability may be categorised as one of the following:

  • Investment in green/sustainable measures.
  • Any investment by SMEs classified as a Green / Sustainable Enterprise.
  • Any investment by farmers classified as a holder of a Green Eco Label.

Qualifying climate action and environmentally sustainable loans will receive a discounted interest rate when compared to equivalent loans.

Learn about the Loan Purpose.

Key Loan Features

  • Variable Interest rate loans.
  • Loan amounts from €25,000 to €3,000,000 per borrower.
  • Loan terms from 7 years up to 10 years.
  • Loans are unsecured up to and including €500,000; loans above €500,000 will be secured.
  • Personal guarantees for loans in excess of €500,000 are limited up to 20% of the loan amount.
  • Capital and interest moratoria (up to 90 days) are permitted within the scheme (subject to Bank approval).

Explore more loan features.

The Growth and Resilience Loan is currently paused for new applicants. However, we are still accepting applications for the Climate Action and Environmental Sustainability Loan.

How to Apply

Before you apply, make sure that your business qualifies for the scheme.

Step 1
  • Visit the SBCI website to register or log in to the SBCI Hub.
  • Submit an online Eligibility Application Form to check if they can access the scheme.
  • Once the online form is completed, successful applicants will be issued with an eligibility code.
Step 2

The applicant must provide this eligibility code to their local Business Lending Advisor or Relationship Manager, when submitting their credit application process.

Satisfaction of SBCI Eligibility Criteria will not guarantee loan approval and does not oblige PTSB to provide finance.

Approval of the loan is subject to PTSB’s own credit criteria, policies, and procedures.

The Growth and Sustainability Loan Scheme will operate until 30 June 2026 or until the scheme has been fully subscribed (whichever is earlier).

Who Can Apply

Viable SME and Small Mid-Cap businesses (enterprise that is not an SME but has fewer than 500 employees), including farmers and fishers, that meet the eligibility criteria. SMEs are defined by the standard EU definition contained in Commission Recommendation 2003/361/EC as enterprises that:

  • Have fewer than 250 employees.
  • Have an annual turnover not exceeding €50 million and/or an annual balance sheet total not exceeding €43 million.
  • Are independent and autonomous, and not part of a wider group of enterprises.
  • Have less than 25% of their capital held by public bodies.

In addition, to be eligible for the scheme, SMEs must be established in an EU Member State and operating in the Republic of Ireland.

Who Cannot Apply

An SME or Small Mid-Cap (enterprise that is not an SME but has fewer than 500 employees) that:

  • Does not satisfy the eligibility criteria.
  • Is bankrupt or being wound up or having its affairs administered by courts.
  • Is subject to, or fulfils the criteria under domestic law for being placed in, collective insolvency proceedings.
  • In the last five years has entered into an arrangement in the context of being bankrupt, or wound up, or having its affairs administered by courts, or has been the subject of a final judgment or final administrative decision for being in breach of its obligations relating to the payment of taxes or social security contributions, or it or any of the persons having powers of representation, decision-making or control over it has been convicted by a final judgment or a final administrative decision for grave professional misconduct, where such conduct denotes wrongful intent or gross negligence, or it or persons having powers of representation, decision-making or control over it has been the subject of a final judgment for fraud, corruption, participation in a criminal organisation, money laundering or terrorist financing, terrorist offences or offences linked to terrorist activities, or inciting, aiding, abetting or attempting to commit such offences, or child labour and other forms of trafficking in human beings.
  • Has a substantial focus in one or more of the excluded activities or restricted sectors, or
    • Has been convicted of an offence or subject to a ruling concerning professional conduct, fraud, corruption, involvement in a criminal organisation, money laundering or any other illegal activity where such illegal activity is detrimental to the EU’s financial interest.
  • For limited companies who do not have their annual filings up to date, any company that is overdue must bring these up to date with the CRO before applying.

GSLS Interest Rates

For Loans for Climate Action and Environmental Sustainability the below variable interest rates apply:
Secured/Unsecured Interest Rate Loan Amount

Unsecured

5.312%

</=€250k

Unsecured

5.312%

>€250k

Secured

4.062%

>€500k

Please see a representative example below:

Loan range Loan Amount Interest Rate Monthly Repayment Term  Total Cost of Credit Total Amount to be repaid
€25,000 - €250,000 €100,000 5.312% €1,428.10 7 years    €19,960.21 €119,960.21
>€250,000 - €500,000 €425,000 5.312% €5,443.82 8 years       €97,606.75 €522,606.75
>€500,000 -=€3,000,000 €750,000 4.062% €7615.50 10 years         €163,860.54 €913,60.54

 

The Growth and Resilience Loan is currently paused for new applicants. However, we are still accepting applications for the Climate Action and Environmental Sustainability Loan.

 

For Loans for Growth and Resilience the below variable interest rates apply:
Secured/Unsecured Interest Rate Loan Amount

Unsecured

5.562%

</=€250k

Unsecured

5.562%

>€250k

Secured

4.312%

>€500k

Please see a representative example below:

Loan range Loan Amount Interest Rate Monthly Repayment Term  Total Cost of Credit Total Amount to be repaid
€25,000 - €250,000 €100,000 5.562% €1,439.95 7 years    €20,955.71 €120,955.71
>€250,000 - €500,000 €425,000 5.562% €5,494.91 8 years       €102,511.23 €527,511.23
>€50,000 -=€3,000,000 €750,000 4.312% €7,705.09 10 years       €174,611.04 €924,611.04

Excluded Activities

Applicants must not use the loan proceeds for:

  • Refinancing of existing term loan debt.
  • Financing of activities constituting pure financial transactions.
  • Financing of specific export operations.
  • Financing current expenditure linked to the export activity.
  • Financing contingent upon the use of domestic over imported products.
  • Financing of pure real estate development activity.
  • Financing of land or property purchases, including agricultural land.
  • Financing to support the purchase of livestock.
  • Financing the purchase of fishing vessels.
  • Financing the establishment and operation of a distribution network in other Member States.
  • Restrictions specific to fisheries and aquaculture - under Article 29 GBER.
  • Restrictions specific to agriculture - under Articles 14 and 17 ABER.
  • Further exclusions under the De Minimis Regulation.

Learn more about Excluded Activities.

Eligibility Criteria

An SME or Small Mid-Cap must satisfy all of the following criteria:

  • It is established in an EU Member State and operating in the Republic of Ireland.
  • It does not have a substantial focus on one or more excluded sectors.
  • It is not established in a non-compliant jurisdiction.
  • It is not delinquent or in default in respect of any other loan or lease either granted by the on-lender or by another financial institution unless:
    • It has been delinquent for less than 20 days and;
    • Such delinquency does not dissuade the on-lender from lending to the SME in accordance with its credit policy
  • It is not engaged in any illegal activities.
  • It is not a sanctioned person or in breach of restrictive measures.
  • It is not subject to any preferential tax measure regarded as harmful under the EU list of non-cooperative jurisdictions for tax purposes.

Loans under the Growth and Sustainable Loan Scheme will be eligible for either growth and resilience investment or climate action and environmentally sustainable purposes.

State Aid

The Growth and Sustainability Loan Scheme operates under the following State aid measures:

De Minimis Regulation:
  • Small Mid-Caps.
  • SMEs borrowing funds for climate action and environmental sustainability measures.
Article 17 of the General Block Exemption Regulation (GBER):
  • SMEs borrowing funds to invest in growth and resilience measures.
Article 29 of the General Block Exemption Regulation (GBER):
  • SMEs in the fishery and aquaculture sector implementing process and organisational innovation projects.
Article 14 the Agriculture Block Exemption Regulation (ABER):
  • SMEs active in the primary production of agricultural products.
Article 17 of the Agriculture Block Exemption Regulation (ABER):
  • SMEs active in the processing of agricultural products and the marketing of agricultural products.

Find a more extensive description of the State aid measures applicable to the scheme.

Warning: The cost of your repayments may increase.

Warning: If you do not meet the repayments on your credit facility agreement, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.

Warning: The entire amount that you have borrowed will still be outstanding at the end of the interest-only period.

Important Information

The Growth and Sustainability Loan Scheme (GSLS) is established and offered by the Strategic Banking Corporation of Ireland (SBCI) and benefits from a guarantee that has been provided by the European Investment Bank Group (EIBG), with support from the Department of Enterprise, Trade and Employment (DETE) and the Department of Agriculture, Food and the Marine (DAFM). Lending criteria, terms and conditions apply. Variable interest rates apply and are subject to change. Please see our Terms & Conditions and Personal & Business banking charges booklets for full details. Approval is subject to repayment capacity assessment and other lending criteria. Over 18s and Republic of Ireland Residents only. SBCI Eligibility Criteria will apply. Satisfaction of SBCI Eligibility Criteria will not guarantee loan approval. Security may be required, which may incur legal costs for the borrower. Your credit rating with PTSB may also be impacted where you have previously been refused an application for credit with PTSB. The borrower’s name and other details such as the Loan Amount, Drawdown Date and quarterly updates on the performance of the loan will also be disclosed to the Strategic Banking Corporation of Ireland (SBCI) for validation and reporting purposes.

For more information on how we use your personal data, your rights in relation to your personal data, and the contact details of our Data Protection Officer, please see our Data Protection Notice. For information on how the SBCI handles personal data, including information about your data protection rights (in respect of the SBCI) and the contact details of the SBCI’s data protection officer, please refer to the SBCI’s data protection notice.

For other queries, or to book an appointment to discuss alternative borrowing options, please call 0818 200 100 or (01) 215 1363. Lines are open from

  • 9am to 5pm Monday to Friday (excluding Bank Holidays), and from:
  • 10am to 2pm Saturdays and Sundays.
Questions and answers

Have a question about the Growth and Sustainability Loan Scheme?

NACE Codes

NACE is the standard system used in the European Union for classifying business activity.

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