FINANCIAL SUPPORT AVAILABLE TO BUSINESS
Scheme
Title
Developed
by / date
announced
Type of
Financing
Support
provided
What does it
cover
How is Support
provided?
What does it
cost?
Eligible
Businesses
Excluded
Sectors
Period
available
Who to contact /
How to apply
UK Green
Investment
Bank
BIS
Offers a range of
products,
including loans
and equity, into
green
investment
opportunities.
The Bank is able
to co-invest in the
following sectors:
- Offshore wind
- Waste treatment
& recycling
- Energy from
waste
- Non Domestic
Energy Efficiency
- Biofuels for
transport
- Biomass power
- Carbon Capture
& Storage
- Marine energy
- Renewable heat
By co-investing, on
commercial terms & alongside
private sector partners, in
projects & investment
opportunities which have
previously been unable to
secure funding
Investments will
be made on
commercial
terms, though
the precise
conditions of
financing will be
determined in
relation to each
investment
All
Those outside
of the listed
approved
sectors.
Ongoing
Ian Nolan
Head of Origination
UKGIB
By making available
conventional lending products
to the SME which would
otherwise have been declined.
Government’s financial
support is to the lender in the
event of default by the SME.
In addition to
regular principal
and interest
payments to the
lender, and any
arrangement fee
which it may
charge, a
premium is
payable to BIS,
equivalent to 2%
per annum on
the outstanding
loan balance
collected and
assessed
quarterly in
advance
Available to
SMEs with an
annual turnover
of up to £25m,
increasing to
£44m early in
2012.
UKGIB became
operational on
29 October 2012
Any investment
opportunities will
need to deliver
green impact &
financial return.
Enterprise
Finance
Guarantee
Scheme
BIS
14 January 2009
Guarantees to
lenders to
enable them to
provide debt
facilities which
would otherwise
be declined due
to the
inadequacy of
the borrower’s
security.
These sectors will
be reviewed in
2015.
Government
provides a
guarantee on
qualifying facilities
provided by
lenders to viable
SMEs which would
not otherwise be
provided due to a
lack of security.
Can be used to
facilitate new
loans, overdrafts
and invoice
finance facilities or
to enable the
restructuring of
existing facilities.
1
Ian.nolan@
greeninvestmentbank
.com
Coal, financing
of individual
export orders.
Some
restrictions on
agriculture,
fisheries and
transport.
Subject to
demand,
EFG will be
available at
least until 31
March 2015.
Businesses should
contact one of the
participating lenders.
These include all the
main banks and a
number of smaller
specialist institutions,
not all of which
operate in Northern
Ireland. A full list may
be found on the BIS
website.
FINANCIAL SUPPORT AVAILABLE TO BUSINESS
Scheme
Title
Developed
by / date
announced
Type of
Financing
Support
provided
What does it
cover
How is Support
provided?
What does it
cost?
Eligible
Businesses
Excluded
Sectors
Period
available
Who to contact /
How to apply
European
Investment
Bank (EIB)
Loan Fund
EU / EIB
16 December
2008
Term Bank
loans to SMEs,
funded by EIB
EU wide, project
based, lending to
SMEs of EUR
15bn in 2009 &
EUR 15bn in
2010. Credit lines
granted to
intermediary
banks & financing
institutions in the
country in which
the project is
based. These
institutions pass
on the EIB funds
to SME promoters.
EIB loans for
SMEs can support
all types of
investment or
expenditure
necessary to grow
a small business:
Tangible (e.g.
purchase of plant);
Intangible (e.g.
R&D financing);
Working Capital
increase for SME
expansion.
Through EIB Intermediated
loans, designed to permit the
financing of projects with a
total investment cost of less
than EUR 25 million. An EIB
credit line may finance a
maximum of 50% of the total
cost of any project.
A new product line will also be
developed allowing risk
sharing with banks.
The conditions
of financing
(interest rate,
grace period,
loan period etc)
are determined
by the
respective EIB
partner bank.
Maturities
typically range
between 5 and
12 years.
Lending
decisions remain
with the financial
intermediaries.
SMEs only
Arms;
Gambling;
Tobacco,
Animal
Testing;
Environmental
impact that
cannot be
mitigated or
offset; Morally
or ethically
controversial
activities(e.g
human
cloning); Pure
Property
Development;
Purely
Financial
Transactions
(e.g. Company
takeovers)
1 January
2009 until
further
notice.
Businesses should
contact participating
Banks or leasing
companies.
£4 billion of funds has been
made available to the UK out
of a €30 billion EU-wide fund.
Bank of Ireland has secured
€100m loan facilities.
Approximately £350m has
been disbursed throughout the
UK to date
2
Barclays, Close Bros,
HBOS and RBS have
already accessed EIB
funds.
FINANCIAL SUPPORT AVAILABLE TO BUSINESS
Scheme
Title
Developed
by / date
announced
Type of
Financing
Support
provided
What does it
cover
How is Support
provided?
What does it
cost?
Eligible
Businesses
Excluded
Sectors
Period
available
Who to contact /
How to apply
Business
Payment
Support
Service (HMRC)
HMRC Scheme.
Announced in
2008 PreBudget Report.
Further
expansion
announced on
22 April 2009.
Offers help to
businesses
facing temporary
financial
difficulties to
spread tax
payments over a
timetable they
can afford.
Corporation tax,
VAT and payroll
taxes including
National Insurance
Contributions
HMRC staff will review
individual business
circumstances and discuss
temporary options tailored to
the needs of the businesses
e.g. making payments over a
longer period of time.
HMRC will not
charge
additional late
payment
surcharges on
payments
included in the
arrangement,
although interest
will continue to
be payable on
those taxes
where it applies.
All
None
No end date
set
HMRC Payment
Support Line
All new and
increased loan
facilities.
Exemptions
include property
development and
investment albeit
owner occupiers
are eligible.
Reduced funding costs.
No cost to
borrower
The majority of
trading
businesses in
the UK are in
scope as long as
the facility is in
sterling.
Exemptions
include: property
investment and
development
however owner
occupiers are
included. Local
governement is
also excluded.
Service has
been expanded
to allow
businesses
expecting to
make losses to
offset those
against tax bills
due on profits for
the previous
year which they
are unable to
pay.
Funding for
Lending
Scheme
17th September
2012 joint
initiative
between Bank of
England and
HMT
No arrangement
fee on eligible
loan facilities. In
addition
discounted
interest rate on
loans with max
term of 5 years.
Overdrafts, Invoice
Finance and
Leasing excluded
3
0845 302 1435
No specific
sectors apart
from Property
investment
and
development –
owner
occupiers
included. No
state aid
implication.
Subject to
demand and
UFN
Businesses can
contact a participating
bank
NI participants:
Ulster Bank
FINANCIAL SUPPORT AVAILABLE TO BUSINESS
Scheme
Title
Developed
by / date
announced
Enterprise
Northern
Ireland Loan
Fund
Enterprise
Northern Ireland
2002
Type of
Financing
Support
provided
Personal loans
for business
purposes
 Fixed interest
rates
 No
arrangement
fees
 No excessive
early
redemption
fees
What does it
cover
How is Support
provided?
What does it
cost?
Eligible
Businesses
Helping
businesses to start
and grow through:
The Enterprise Northern
Ireland Loan Fund provides
loans to individuals both
looking to start, or already
running, their own business,
who can demonstrate a viable
business proposal, but who
are struggling to access
mainstream sources of finance
for all or part of their funding
requirements.
Start-up
Business
All applicants
must:
 Loans of
 Be resident in
 Securing
business
premises and
payment
towards
refurbishment
costs
between
£1,000 to
£10,000
 Repayable
over 1 year to
3 years
 Fixed interest
 Purchase of
rate of 6%
(APR 11.4%
to 11.7%)
equipment,
tools, stock and
raw materials
 Payment
towards
marketing,
advertising and
promotion costs
the UK, over
18 years of
age and be
responsible
for running the
business
 Be able to
demonstrate a
commercially
viable
business
proposal to
support the
loan
 Not currently
be in an IVA,
subject to a
CCJ or
bankrupt
 Payment
towards other
items and
activities
essential for
business startup or expansion
All businesses
must:
 Be based in
Northern
Ireland
LOANS CANNOT
BE USED TO REPAY OR
CONSOLIDATE
EXISTING
BUSINESS OR
PERSONAL
DEBT
 Be legal,
moral, nondiscriminatory
and not
undertake any
activity which
may offend
public taste.
4
Excluded
Sectors
Funding will
not be given to
businesses
involved with
religion,
politics,
pornography,
gambling or
money lending
Applications
for the
purchase of
vehicles will
not be
considered,
except in the
case of
commercial
vehicles
deemed to be
essential to
the business –
in such cases
we prefer to
limit our
funding to a
deposit for a
hire-purchase
agreement
along with the
first few
months
repayments.
Period
available
Who to contact /
How to apply
No end date
set
www.enterpriseni.com/
Telephone:
(028) 7776 3555
E-mail:
loanfund@
enterpriseni.com
FINANCIAL SUPPORT AVAILABLE TO BUSINESS
Scheme
Title
Developed
by / date
announced
Type of
Financing
Support
provided
What does it
cover
How is Support
provided?
What does it
cost?
Eligible
Businesses
Excluded
Sectors
Period
available
Who to contact /
How to apply
Bank of Ireland
UK, Essentials
for Business
Package for
Northern
Ireland
customers
Bank of Ireland
UK/ April 2008.
(Note: This is
not a
government
product)
The Essentials
for Business
package is a
combined
package of
products and
services for
small business
customers
including startups &
established
businesses.
Whether you’re a
start-up or more
established
business, we offer
some of the best
business banking
solutions, practical
advice and
support available
in Northern
Ireland.
Unsecured Overdraft
Facility/Loan: unsecured
OD/loans of up to £30,000 for
start-ups and up to £50,000 for
businesses established at
competitive rates. We can
also offer secured loans of up
to £250,000 for all customers.
A range of fee
free services are
included as part
of the package.
Small
Businesses with
a borrowing
requirement less
than £250k.
New &
Established
businesses (i.e.
Trading more
than 2 years).
N/A
Ongoing
Contact your branch
or Business Adviser
for more information
about our Essentials
for Business brochure,
including Terms &
Conditions and
Schedule of Charges
for Business
Customers.
Some features of the E4B
package include:
 Fee Free Transactional
Banking for the first 2 years.
 Fee Free Asset Finance for
the first year.
 Visa Business Card fee free
for the first year.
 Free access to Business
Online (Service Level 1) for
the first 2 years.
5
Borrowing is
subject to
relevant criteria
being met and
arrangement
fee.
To qualify for
free transaction
fees:
- Lodgements
must be made
using the Priority
Lodgement
facility.
- Cash
lodgements
must not exceed
£10,000 per
quarter.
FINANCIAL SUPPORT AVAILABLE TO BUSINESS
Scheme
Title
Developed
by / date
announced
Type of
Financing
Support
provided
What does it
cover
How is Support
provided?
What does it
cost?
Eligible
Businesses
Excluded
Sectors
Period
available
Who to contact /
How to apply
Bank of Ireland
UK, Business
Agri Package
Bank of Ireland
UK/October
2011. (Note:
This is not a
government
product )
The Business
Agri Package is
a combined
package of
products and
services for
farmers and agri
businesses
throughout
Northern Ireland
The package is
available to all
new to bank agri
and agri related
businesses
Key features of the package
include:
 Fee Free Transactional
banking for the first 2 and a
half years
 Visa Business Card fee
free for the first year
 Free access to Business
Online (Service Level 1) for
the first 2 years
 Competitive rates on
borrowing
Agri Business &
Agri Related
Businesses
Non-Agri
related
businesses
Ongoing
Contact your branch
or Business Adviser
for more information
about our Essentials
for Business brochure,
including Terms &
Conditions and
Schedule of Charges
for Business
Customers.
Bank of Ireland
UK Agri
Business
Investment
Fund
Bank of Ireland
UK/October
2011. (Note:
This is not a
government
product )
The fund is
designed to
finance new
investment
requirements to
support the
growth
objectives of the
agricultural and
agri food sector
in NI.
The fund is open
to new and
existing customers
and is available to
fund a wide variety
of investments
including
 Purchase of
machinery
 Purchase of land
 Upgrading
housing and
other facilities
 Construction of
farming buildings
 Purchasing
stock (e.g.
feed/livestock)
The Agri Business Investment
Fund offers:

Competitive rates

Flexible repayment
schedule

Lending expertise from
BOI Business Managers
A range of fee
free services are
included as part
of the package.
Borrowing is
subject to
relevant criteria
being met and
arrangement
fee.
To qualify for
free transaction
fees:
- Lodgements
must be made
using the Priority
Lodgement
facility.
- Cash
lodgements
must not exceed
£10,000 per
quarter.
Borrowing is
subject to
relevant criteria
being met and
arrangement
fee.
Business
operating within
the Agriculture
and Agri Food
Sector.
Non-Agri
related
businesses
Ongoing
Contact your branch
or Business Adviser
for more information
about our Essentials
for Business brochure,
including Terms and
Conditions and
Schedule of Charges
for Business
Customers.
A range of fee
free services are
available as part
of the BOI/UK
Agri Business
package
6
FINANCIAL SUPPORT AVAILABLE TO BUSINESS
Scheme
Title
Developed
by / date
announced
Type of
Financing
Support
provided
What does it
cover
How is Support
provided?
What does it
cost?
Eligible
Businesses
Excluded
Sectors
Period
available
Who to contact /
How to apply
First Trust
Bank Business
Support Fund
First Trust Bank
28 May 2012
Working capital/
Purchase of
business
premises/
Purchase of
agricultural land
or business
expansion.
First Trust Bank
wants to ensure
the credit demand
for viable business
is met. A new
£50m Business
Support Fund
aims to support
SMEs by providing
access to finance
for new projects or
expansion
initiatives.
Aims to support SMEs by
providing access to finance for
new projects or expansion
initiatives. Funding is
available for individual loans
on a capital and interest
repayment up to a maximum
of £250,000.First Trust also
supports business by offering
the following

Enterprise Finance
Guarantee Loans
(subject to status)

Term loans and
overdrafts (subject to
status)

Invoice Finance
facilities (subject to
status)

Asset Finance
facilities (subject to
status)

Foreign exchange
facilities

International Trade
Finance (Letters of
Credit, Guarantees,
Bonding);
Loans will be
priced at First
Trust Bank base
rate + 3.75%,
with a fixed
arrangement fee
of 1% up to a
maximum of
£500.
New and
existing
business
customers may
apply for the
business
support fund
Land or
property
investment/de
velopment are
not included,
unless for
purchase of
business
premises or
agricultural
land.
Ongoing
Call into your local
branch or phone:
0845 6005 925 or
Email:
businessbanking.bel
fast@aib.ie. Further
information is also
available on
www.firsttrustbank.c
o.uk/business . If
you need finance and
are not eligible for the
Business Support
Fund, call into your
local branch who can
help find the most
suitable alternative
product for your
business.
7
FINANCIAL SUPPORT AVAILABLE TO BUSINESS
Scheme
Title
Developed
by / date
announced
Type of
Financing
Support
provided
What does it
cover
How is Support
provided?
What does it
cost?
Eligible
Businesses
Excluded
Sectors
Period
available
Who to contact /
How to apply
Santander’s
Breakthrough
Programme
incorporating
Growth Capital
Launched in
Northern Ireland
November 2012
Santander
Growth Capital
is a debt product
rather than an
equity product.
However it is
subordinated
behind
conventional
senior bank debt
as a mezzanine
loan.
Financing must be
growth led with
clear benefits to
the business.
Projects need not
generate new
employment but
these cases will be
viewed favourably.
Example projects
might include:
I) Investment in a
new production
line
II) Implementation
of a new software
or IT platform
III) Recruiting new
Directors –
Finance or
otherwise
IV) Exploration of
overseas markets
or other R & D
V) Marketing and
advertising costs
VII) Roll out
strategy
VIII) Buy & Build
acquisitions
IX) Premises
relocation
Loan amounts: £0.5M to £3M
(in addition to senior debt)
Term: 2 to 5 years
Repayment: Bullet or
refinance – no interim capital
repayments.
Security: Second ranking
security for the subordinated
loan.
Pricing: 10%
margin (5%
above LIBOR
paid quarterly,
5% rolled up and
capitalised).
Fees: 3%
arrangement fee
payable upfront
on the
committed
amount
2.5%
commitment fee
p.a. payable
quarterly on
undrawn
amounts.
Businesses with
a turnover
between £0.5M
and £15M with
ideally a 3 year
trading history
that are able to
demonstrate
growth in a
combination of
sales, profits
and / or
employee
numbers. Track
record of
sustainable
operating
profitability and
cash generation.
Proven
management
team.
N/A
Until further
notice
Contact the Corporate
Banking Centre in
Belfast for further
information. Regional
Director: Peter
Torrens
(peter.torrens@santan
der.co.uk).
As well as Growth Capital, the
Breakthrough Programme
provides other benefits
including regional networking
events, funded graduate
enternships, subsidised
overseas trade missions and
masterclass visits to iconic fast
growth UK businesses.
8
FINANCIAL SUPPORT AVAILABLE TO BUSINESS
Scheme
Title
Developed
by / date
announced
Type of
Financing
Support
provided
What does it
cover
How is Support
provided?
What does it
cost?
Eligible
Businesses
Excluded
Sectors
Period
available
Who to contact /
How to apply
Accelerated
Support Fund
(ASF)
Invest NI
09 December
2008
Grant support
for projects
against eligible
vouched and
approved
expenditure.
Projects supported
must seek to
address issues
arising from
current economic
conditions and
should reflect
Invest NI's
intervention
principles.
Grant support up to £50K at a
grant rate of 50% is available.
Supported Client
businesses must
have match
funding available
equal to 50% of
eligible project
cost
Established
Invest NI Clients
- SMEs and non
SMEs
Agriculture;
Fishery and
Aquaculture;
Coal.
Capital
expenditure
and MIS led
projects are
not eligible for
ASF support,
nor can ASF
'top up'
support under
existing
schemes
September
2008 until
further
notice. ASF
offers have
a maximum
period of 15
months in
which a
Client may
claim
support.
Assistance
should focus
on a period
of activity of
up to 12
months.
Invest NI Clients
should complete the
ASF application form.
Applications reviewed
by Client Executives to
ensure are complete &
suitable for ASF
support. Applicants
are advised within 5
working days
regarding eligibility,
rejection or returned
for completion.
Supported NI
businesses must
have match
funding available
as follows:
PoC grants –
salary costs
which are noneligible.
Equity – 30% of
deal costs must
be provided by
private sector
funders in form
of equity.
PoC –
individuals, startups, microenterprises,
SMEs.
State Aid
excluded
sectors of
shipbuilding,
coal and steel.
April 2009 to
March 2014.
Businesses should
contact E-Synergy.
Detailed information
can be found at
www.nispofunds.com
NISPO
(Northern
Ireland Spin
Outs)
Invest NI
April 2009.
Funds are
managed by ESynergy on
Invest NI’s
behalf.
Proof of Concept
(PoC) Grants,
Seed and early
stage equity.
PoC grant enables
small businesses
to establish the
commercial
potential of a
concept resulting
from in-house
research and
ideas.
Eligible expenditure:





Salary costs of new and
existing staff;
Consultancy costs;
Salary costs of trainers;
External training costs;
Travel and subsistence.
PoC grants can by Mini Grant
up to £10k or Standard Grant
up to £40k.
Equity of up to £250k may be
provided to a business in
return for shares in the
business.
Seed and early
stage equity
covers post PoC
early stage
development
costs.
9
Equity – startups, microenterprises,
SMEs with post
PoC compelling,
scalable high
growth business
propositions.
There are
separate
schemes for
university and
non-university
FINANCIAL SUPPORT AVAILABLE TO BUSINESS
Scheme
Title
Developed
by / date
announced
Type of
Financing
Support
provided
What does it
cover
How is Support
provided?
What does it
cost?
Eligible
Businesses
Excluded
Sectors
Period
available
Who to contact /
How to apply
spin outs,
Co-investment
Fund
Invest NI
June 2011. Fund
is managed by
Clarendon Fund
Managers on
Invest NI’s
behalf.
Equity
Growth Loan
Fund
Invest NI. June
2012. Fund is
managed by
WhiteRock
Capital Partners
on Invest NI’s
behalf.
Mezzanine debt.
NI Small
Business Loan
Fund
Invest NI.
February 2013.
Fund is
managed by
Ulster
Community
Investment plc
on Invest NI’s
behalf.
Loan finance.
Funding will help
SMEs to grow
their businesses
and will fund some
or all of:
Research and
development,
marketing, and
other early stage
development
costs.
Funding will help
SMEs to grow
their businesses
and will fund some
or all of:
Working capital,
Research and
development,
marketing, capital
expenditure.
Funding will help
small businesses
with start up and
growth costs.
Private investors will set the
terms and bring deals to the
fund manager. Equity is
provided on a pari passu basis
(equal terms) with those of the
private investors which will
mainly be business angel
investors. There must be an
identifiable funding gap. Deal
size will typically be between
£250,000 and £450,000,
including the private element.
Support is by way of
mezzanine debt. The terms of
the loan will be negotiable with
the fund manager who
operates on a fully commercial
basis. Loans will typically be
between £50,000 and
£250,000.
Deal costs will
vary on a case
by case basis,
and will be
agreed with the
fund manager.
Innovative, high
growth potential
scalable SMEs.
Must be
substantially
based in NI.
State Aid
excluded
sectors of
shipbuilding,
coal and steel.
June 2011
to June
2017.
Businesses should
contact Clarendon
Fund Managers.
Detailed information
can be found at
cofundni.com
Loans are
typically priced
at between 8%
and 12%,
depending on
risk, and there
will also be a
share of profits.
State Aid
excluded
sectors of
shipbuilding,
coal and steel.
June 2012
to June
2017.
Businesses should
contact WhiteRock
Capital Partners.
Detailed information
can be found at
whiterockcp.co.uk.
Support is by way of loan
which will typically be
unsecured, but personal
guarantees may be sought.
The terms of the loan will be
negotiable with the fund
manager who operates on a
fully commercial basis. Loans
will typically be between
£1,000 and £50,000.
Loans will
typically be
priced at
between 9% and
16% depending
on risk.
SMEs
demonstrating
growth and
ability to service
the loan. SMEs
will be from the
manufacturing
and tradable
services sectors
and be
substantially
based in NI.
Individuals,
private
companies and
social
enterprises,
which are micro
businesses or
SMEs.
Businesses
must be
substantially
based in NI and
demonstrate
their ability to
service the loan.
State Aid
excluded
sectors of
shipbuilding,
coal and steel.
February
2013 to
February
2018.
Businesses should
contact Ulster
Community
Investment plc.
10