PTSB joins €500m government loan scheme for SMEs

Michael McGrath, the finance minister, said that 30 per cent of the scheme’s lending capacity was targeted at SME sustainability investment

Colin Moran, the head of lending at SBCI, and Patrick Farrell, the retail banking director at PTSB. Picture: Chris Bellew, Fennell Photography

PTSB has joined the government’s €500 million growth and sustainability loan scheme for SMEs, the bank has announced.

Under the initiative, operated with funding from the European Investment Bank (EIB) and the Strategic Banking Corporation of Ireland (SBCI), PTSB will provide €70 million in loans to Irish SMEs.

The bank will offer loans from €25,000 to €3 million for terms from seven to ten years, with loans of up to €500,000 available on an unsecured ...