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  • Merrion Fleet & SBCI

    Merrion Fleet Finance Supporting SME's

    Merrion Fleet is dedicated to supporting the SME sector and that’s why we have partnered with the SBCI to assist Irish businesses to access finance at a more competitive rate of interest. Merrion Fleet can provide funding for your fleet of passenger or light commercial vehicles at a reduced cost. We can supply this funding for vehicles of up to €1.25 million for up to 60 months*. This will mean more competitive funding against other forms of finance.

    What is SCBI?
    (Strategic Banking Corporation of Ireland)?

    The Strategic Banking Corporation of Ireland (SBCI) is a state-backed agency, established to assist funding to small and medium enterprises in Ireland. It was formally launched by the Minister for Finance, Michael Noonan, TD on 31st October 2014.

    For more information visit:
    sbci.gov.ie/about-us/what-is-the-sbci

    Application

    Does my business qualify for SME funding?

    Irish businesses who match the following criteria are eligible for funding through the SBCI:

    • Have less than 250 employees
    • Have a turnover not exceeding €50 million and / or balance sheet assets of less than €43 million
    • Are independent and autonomous, i.e. not part of a wider group of enterprises
    • Have less than 25% of their capital held in public bodies
    • Have a significant presence in Ireland

    What is available?

    Finance of up to €1.25 million is available for the leasing of vehicles and contract hire products from Merrion Fleet Management.

    To see if your business qualifies, download the pdf form below and email to sbci@merrionfleet.ie:

    Frequently Asked Questions

    • How do I qualify for an SBCI Loan?

      SBCI loans are available to most SME's. The criteria for an SME to meet are as follows:

      • Company must have less than 250 employees.
      • The company must have a turnover NOT exceeding €50 million and/or balance Sheet Assets of less than €43 million.
      • The company is independent and autonomous, i.e. not part of a wider group of enterprises.
      • The company must have less than 25% of their capital held by a public body.

    • How can an SBCI Loan be used?

      Merrion Fleet Management specialise in leasing of passenger and light commercial vehicles. Qualifying SME's can use SBCI funding for the lease/contract hire of vehicles from Merrion Fleet Management.

    • How much does an SBCI loan cost?

      SBCI finance is provided at a competitive rate which is less the current retail banking rates.

    • How long does the application process take?

      Merrion Fleet aim to respond to all applications within 48 hours with an initial guide response.
      Merrion Fleet will need to review each application in detail before a funding decision can be reached.
      The full process of approval should take no more than 72 hours.
      Applicants are reminded that in order to complete the credit review process we will need to share the applicant's information with the SBCI.

    • Is there a maximum amount and duration for SBCI funding with Merrion Fleet?

      SBCI funding is available for a maximum of 60 months or the duration of the lease/contract hire period. The maximum funding amount is €1.25 million.

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