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Small Business Funding

SBCI and BVP launch 50m green loan fund for SMEs [Video]

The Strategic Banking Corporation of Ireland (SBCI) and Business Venture Partners (BVP) have partnered to launch a €50m green loan fund for SMEs.

The Green Transition Finance product is designed to support the green and sustainable transition of Irish businesses, specifically SMEs and small mid-caps investing in green projects and assets as well as those already operating sustainably.

Loans range from €500,000 to €5m on terms of up to 10 years  with competitive interest rates and flexible repayment terms to support business growth.

The fund will be managed by venture investor BVP and the majority of funding will be provided by the SBCI. It also benefits from the provision of the InvestEU Sustainability Portfolio Guarantee Product, operated by the European Investment Fund (EIF).

“This innovative and competitive €50m fund combines the significant financial and investment expertise of the two organisations, particularly in the area of sustainable investment practices,” said Minister for Finance Jack Chambers.

“It is …

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Small Business Funding

Debris removal slowly continues after Helene [Video]

Weeks after Hurricane Helene swept through the area, large piles of debris continued to line the streets of neighborhoods across Greenwood County. Residents say cleanup efforts are dragging on longer than expected, but county officials confirm progress is being made while also acknowledging that there is a long road ahead. According to Greenwood County leaders, in the immediate aftermath of Helene, the county experienced a 100% power outage, and nearly every street was blocked by storm damage. Local business owner Taylor Tucker, who runs Thayer's Furniture and Fine Gifts, says she continues to hear stories of hardship from her customers. It was like PTSD almost. They wanted to talk about it, Tucker said. Like many others in the county, Tuckers street remains cluttered with piles of debris. She worries the conditions are becoming hazardous. When I come home at night, and its dark, and we dont have a streetlight there, you have to be very careful because people have pushed the debris into the road, and youll just hit huge limbs and logs, she said. So, Im very careful when I drive now. According to Abby Banks, public information officer of Greenwood County, the county has a slower cleanup pace compared to larger counties in the Upstate due to the countys limited resources.Any time that you are a smaller county, you have less resources to take care of , Banks said. And while we may have fewer people, we have a lot of square footage, a lot of miles and a lot of roads to cover. Despite the challenges, Tucker expressed trust in the countys efforts. Im going to give a lot of grace because weve never experienced anything like this, she said. The debris that has built up is unbelievable. To address the ongoing recovery, county leaders recently approved additional funding for debris removal and passed an ordinance allowing residents to stay on their property in recreational vehicles while their homes are being repaired. We want to keep families together, Banks said. We dont want those displaced by Helene to have extra driving that they have to do to get to work or get their kids to school. Banks says Greenwood County teams are handling debris removal on private roads and neighborhoods, while the South Carolina Department of Transportation is managing state and county roads. As the recovery continues, residents like Tucker are holding onto hope that their neighborhoods will be restored soon.