OCDE - Financing SMEs and Entrepreneurs 2026 - Irlanda de 2026

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FINANCING SMES AND ENTREPRENEURS 2026: IRELAND © OECD 2026

Financing SMEs and Entrepreneurs 2026: Ireland

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FINANCING SMES AND ENTREPRENEURS 2026: IRELAND © OECD 2026

Key facts on SME financing According to the Central Statistics Office (CSO), SMEs accounted for 99.8% of all active enterprises in Ireland in 2023. They also accounted for 66.9% of the total persons employed. Over hal f of all SMEs (54.8%) in the Irish business economy in 2023 were in the services sector. The Central Bank of Ireland reported that the total SME bank debt fell from EUR 18.4 billion in Q1 2023 to EUR 17.7 billion in Q1 2025. Much of the decline can be attributed to repayments exceeding new lending figures: annual repayments were estimated to be EUR 1.7 billion at the end Q4 2024, while gross new lending for the same period was EUR 1.2 billion. Gross new lending to core SMEs (all non-financial and non-property related sec tors) was EUR 1.2 billion in Q4 2024 and EUR 4.4 billion in 2024. This reflected a yearon-year increase of EUR 320 million, the largest in several years. Survey data from the SME Credit Demand Survey show that demand for bank credit for SMEs in Ireland has shown a slight but steady increase over the las t 2 years . However, many

largest in several years. Survey data from the SME Credit Demand Survey show that demand for bank credit for SMEs in Ireland has shown a slight but steady increase over the las t 2 years . However, many SMEs in Ireland remain hesitant to seek external funding for investments, with 74% of the SMEs that did not apply for credit stating that having sufficient internal funds was the reason. Loan approval rates have increased slightly, with 92% of all applications for 2024 (excluding “still pending”) either fully or partially approved. The interest rate on new SME loan drawdowns decreased by 11 basis points over the quarter , and stood at 5.14% for Q4 2024, This follows a fluctuation in rates, with the cost of credit on new SME loans peaking in Q4 2023 at 5.62% and then experiencing a steady decline in H2 of 2024. The Government of Ireland implemented a range of measures to assist SMEs, including primary producers, in dealing with the rising costs of energy, together with an increased inflation ary environment, as a consequence of the large-scale aggression of Russia against Ukraine. In July 2024 , the Irish government launched the National Enterprise Hub with the view to streamline access to over 250 government supports for SMEs. In January 2023, the Ukraine Credit Guarantee Scheme worth EUR 1.2 b illion was launched. This was aimed at providing low-cost working capital to SMEs, primary producers, and small mid-caps, and was available through several lenders from the bank, non-bank and credit union sectors. This scheme closed on 31 December 2024.Since March 2015, Ireland’s national promotional bank, the Strategic Banking Corporation of Ireland (SBCI) is working closely with the Department of Enterpris e, Tourism and Employment, the Department of Agriculture, Food and the Marine and the Department of Finan ce in the design and implementation of a number of SME credit-related support and investment scheme s. One key programme being deployed is the Growth and Sustainability Loan Scheme. In Septembe r 2023, the EUR

Employment, the Department of Agriculture, Food and the Marine and the Department of Finan ce in the design and implementation of a number of SME credit-related support and investment scheme s. One key programme being deployed is the Growth and Sustainability Loan Scheme. In Septembe r 2023, the EUR 500 million Growth and Sustainability Loan Scheme was launched, with the aim of providing longer-term lending. Loans under these schemes have been made available through the three main ba nks, together with other lenders from the non-bank and credit union sectors. The Scheme will operate until 30 June 2026 or until the scheme has been fully subscribed (whichever is earlier). Up to 31 March 2025 1 651 loans were approved, to the value of EUR 367.4 million. Following approval, 1 448 loans were drawn down to the value of EUR 278.1 million. The Growth and Sustainability Loan Scheme is achieving a high take up, with Ireland2 

FINANCING SMES AND ENTREPRENEURS 2026: IRELAND © OECD 2026

the full lending capacity anticipated to be utilised in advance of the end date . The overriding objective of these schemes was to provide flexible funding for those firms that require it. More details on these schemes are provided in the full country profile. Credit Review was established in 2010 to assist SMEs and farm borrowers who have been refus ed bank credit, including an SBCI product. It helps SMEs whose applications for credit of up to EUR 3 million have been declined or reduced by the participating banks, and who feel they have a viable business proposition. This is a strictly confidential process between the business, Credit Review, and the bank. Credit Review received 1 425 formal applications by the end of 2024. Of these, 1 014 have reache d a conclusion, with Credit Review upholding appeals in favour of 597 borrowers. 3

FINANCING SMES AND ENTREPRENEURS 2026: IRELAND © OECD 2026

Table 1. Scoreboard for Ireland

Credit Review upholding appeals in favour of 597 borrowers. 3

FINANCING SMES AND ENTREPRENEURS 2026: IRELAND © OECD 2026

Table 1. Scoreboard for Ireland Indicator Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Debt Outstanding business loans, SMEs EUR billion

27.1 27.34 25.7 24.52 21.4 19.31 16.11 15.82 15.06 14.25 12.79 12.66 12.54 11.6 11.4 Outstanding business loans, total EUR billion 56.08 59.57 52.5 42.42 40.31 38.06 36.65 31.79 29.82 28 27.74 29.55 28.80 25.58 24.63 25.24 23.97 24.08 Share of SME outstanding loans % of total outstanding

63.89 67.82 67.51 66.89 67.32 64.78 57.54 57.04 50.96 49.47 50.02 51.43 49.67 48.44 47.31 New business lending, SMEs EUR million

2 284 2 211 1 990 1 905 2 401 2 646 3 235 3 682 3 468 3 618 2 914 2 905 3 007 2 989 3 329

New business lending, SMEs EUR million

2 284 2 211 1 990 1 905 2 401 2 646 3 235 3 682 3 468 3 618 2 914 2 905 3 007 2 989 3 329 Outstanding short-term loans, SMEs EUR billion 17.26 15.02 10.93 6.05 3.81 3.06 3.02 2.39 1.79 2.03 2.52 2.45 2.52 2.43 4.78 4.36 4.69 2.79 Outstanding long-term loans, SMEs EUR billion 2.12 1.93 1.34 0.93 0.58 0.54 0.6 0.78 1.09 1 0.73 0.81 0.69 0.46 7.88 6.97 6.51 7.57 Share of short-term SME lending % of total SME lending 89 88 89 86 87 85 83 75 61 67 77 75 80 84 38 39 42 27 Non-performing loans, total % of all business loans

14 7.4 4.7 5.4 6.9 6.5 4.7 3.9 Non-performing loans, SMEs % of all SME loans

41 41 27 26 18.7 22.6 11.1 6.8 8 9.8 8.1 5.1 4.8 Interest rate, SMEs % 6.23 6.67 3.98 3.88 4.68 4.34 4.3 4.78 4.77 4.65 4.28 4.3 4.2 4.17 3.88 4.2 5.4 5.3

Interest rate, large firms % 5.95 6.19 3.22 2.86 3.33 2.81 2.76 2.96 2.37 2.18 2.24 2.15 2.47 2.23 1.99 3.29 5.5 5.6 Interest rate spread Percentage points 0.28 0.5 0.76 1.03 1.36 1.54 1.6 1.8 2.63 2.25 1.98 2.21 1.75 1.94 1.89 0.91 -0.09 -0.35 Collateral, SMEs % of SMEs needing collateral

41 40 46 41 39 42 34 42 53 36 40 Percentage of SME loan applications SME loan applications/ total SMEs

36 39 36 31 30 23 21 20 20 18 17 17 18 20 Rejection rate 1-(SME loans authorised/ requested)

30 24 20 14 15 16 15 14 14 15 9 10 11 8 Utilisation rate SME loans used/ authorised

81 82 84 75 75 83 76 Non-bank finance Venture and growth capital EUR million 226 243 288 310 274 269 285 401 522 888 994 738 820 925 1 330 1 331 1 358 1 480 Venture and growth capital (growth rate) %, Year-on-year growth rate

7.53 18.61 7.67 -11.54 -2 5.95 40.65 30.3 70.1 11.92 -25.75 11.1 12.8 44.00 0.08 2.03 9.00 Other indicators

7.53 18.61 7.67 -11.54 -2 5.95 40.65 30.3 70.1 11.92 -25.75 11.1 12.8 44.00 0.08 2.03 9.00 Other indicators Bankruptcies, SMEs Number 344 613 1 245 1 386 1 410 1 317 1 119 1 007 816 642 720 543 678 492 345 462 636 746 Bankruptcies, SMEs (growth rate) %, Year-on-year growth rate

78.2 103.1 11.33 1.73 -6.6 -15.03 -10.01 -18.97 -21.32 12.15 -24.58 24.86 -27.43 -29.88 33.91 38 17.29

Note: Data on bankruptcies pertains to company liquidations rather than bankruptcies and include all enterprises, without separately distinguishing SMEs.4 

FINANCING SMES AND ENTREPRENEURS 2026: IRELAND © OECD 2026

Macroeconomic and financing conditions Economic Developments Despite trade, geopolitical and other headwinds, incoming data confirm a s trong start of 2025. The domestic economy recorded a quarterly expansion of 0.8% in the first quarter. This is consistent with the strength of the labour market, with employment reaching a record high of EUR 2.8 million in the first quarter, while unemployment has remained close to historic lows at 4.2% at end Decemb er 2024. Inflation has eased considerably and has been at or below 2 % for the past year. Along with the robust labour market, the moderation in inflation has underpinned an acceleration in real wages support ing increases in consumer spending. While the solid momentum has continued into the start of 2025, fragmentation and uncertainty represents a serious headwind for the Irish economy. In particular, exposure to trade disruptions and reconfiguration

the moderation in inflation has underpinned an acceleration in real wages support ing increases in consumer spending. While the solid momentum has continued into the start of 2025, fragmentation and uncertainty represents a serious headwind for the Irish economy. In particular, exposure to trade disruptions and reconfiguration of global value chains represents a notable challenge for the Irish economy. Economic Forecasts – Annual Progress Report 2025 The baseline forecasts presented in the Annual Progress Report were produced during March 2025 on the assumption that no transatlantic tariffs would be introduced. On this basis, Modi fied Domestic Demand (MDD)1 is projected to grow by 2.5% this year, a downward revision of around -0.5 percentage points from the autumn forecasts, reflecting the significant increase in uncertainty over recent months. For next year, MDD growth of 2.8% is currently anticipated. Table 2. Department of Finance baseline Spring Forecasts % change unless specified 2024 2025 2026 GDP 1.2 4.1 3.4 Employment 2.7 2.0 1.5 Unemployment rate 4.3 4.2 4.5 MDD 2.7 2.5 2.8 Inflation 1.3 2.1 2.1 Core Inflation 2.4 2.2 2.1

Note: Employment and Unemployment figures are yearly averages.

Given the significant change in the global tariff landscape in H1 2025, the A PR included an alternative scenario incorporating the potential impacts of tariffs that were in place at end-April. Thi s includes the assumption that the 10% tariff on trade between the US and the rest of the world is maintained throughout the forecast horizon. On this basis, the domestic economy is expected to grow by 2 % and 1.75 % in 2025 and 2026, a downward revision of around 1.5 % compared to the no-tariff baseline scenario by the end of

the forecast horizon. On this basis, the domestic economy is expected to grow by 2 % and 1.75 % in 2025 and 2026, a downward revision of around 1.5 % compared to the no-tariff baseline scenario by the end of

2026. In relation to the labour market, employment is forecast to increase by 1.75 % this year and around 1 % next year. This is equivalent to around 25 000 fewer jobs compared to the baseline scenario by end2026.

It must be stressed, however, that there is little or no precedent from which to make c onfident projections regarding the macro-economic impact of trade de-coupling and a weakening of the tr ansatlantic relationship. 5

FINANCING SMES AND ENTREPRENEURS 2026: IRELAND © OECD 2026

Table 3. Department of Finance alternative scenario % change unless specified 2025 2026 GDP 4 (4.1) 2 (3.4) Employment 1.75 (2.0) 1 (1.5) MDD 2 (2.5) 1.75 (2.8) Note: Figures are rounded to nearest ¼ pp, figures in parentheses refer to the baseline forecast. Employment figures are yearly averages. SMEs in the national economy SMEs are a vital component of the Irish economy, as they comprise 99.8% of active enterprises and 60.1% of all persons employed. SMEs generated 43% of total turnover in the business economy and 41% of gross value added in 2022, the latest year figures available for Ireland. Table 4. Number of active enterprises by sector and size class, 2022 Structural Business Statistics1 by sector, 2022 Employees Industry Construction Distribution Services Total2 Enterprises (No.) No. 21 451 77 676 49 253 241 274 389 654

Table 4. Number of active enterprises by sector and size class, 2022 Structural Business Statistics1 by sector, 2022 Employees Industry Construction Distribution Services Total2 Enterprises (No.) No. 21 451 77 676 49 253 241 274 389 654 of which: SMEs <250 No. 21 250 77 648 49 135 240 735 388 768 Large 250+ No. 201 28 118 539 886 Persons Engaged (No.) No. 290 505 198 109 413 595 1 390 389 2 292 598 of which: SMEs <250 No. 142 886 181 471 290 492 942 151 1 557 000 Large 250+ No. 147 619 16 638 123 103 448 238 735 598 Turnover (EUR m) 430 088 45 908 213 790 598 943 1 288 729 of which: SMEs <250 EUR m 76 344 37 757 161 758 279 138 555 720 Large 250+ EUR m 353 743 7 421 52 032 319 812 733 009 Gross Value Added (EURm) EUR m 180 024 12 296 31 523 200 340 424 183 of which: SMEs <250 EUR m 28 703 10 998 20 482 111 902 172 163 Large 250+ EUR m 151 341 1 298 10 941 88 348 252 019

Notes:

1. NACE sectors B to S (excluding O and S94).

2. Totals may differ due to rounding Source: CSO Ireland SME lending Annual gross new lending to core SMEs increased to EUR 4.4 billion by 2024 Q4. This reflected a

Notes:

1. NACE sectors B to S (excluding O and S94).

2. Totals may differ due to rounding Source: CSO Ireland SME lending Annual gross new lending to core SMEs increased to EUR 4.4 billion by 2024 Q4. This reflected a year-on-year increase of EUR 320 million, marking the largest yearon-year increase in several years , perhaps marking another step towards a return to pre-COVID borrower confidence .

The Central Bank of Ireland reported that by the end of Q4 2024, the outstanding stock of Irish SME credit was EUR 17.7 billion, of which EUR 11.3 billion was core SME credit, which is defi ned as SMEs from non-financial and non-property related sectors. This continues the steady decline of the stock of core SME6 

FINANCING SMES AND ENTREPRENEURS 2026: IRELAND © OECD 2026

credit, which has reduced by 58% since 2010. This continued decline has oc curred as demand for credit had been steadily decreasing since 2010, although 2024 saw an uptick in credit demand. Credit conditions The Irish Department of Finance conducts an SME Credit Demand Survey of over 1 500 SMEs to iden tify what are the main challenges that they experience when accessing credit. The survey cap tures a full picture of the SME landscape in Ireland, with micro-enterprises, small-sized enterprises and medium-sized enterprises sampled proportionately. The results from these surveys provide important info rmation on the financial issues and challenges facing Irish SMEs. This, in turn, enables the Government to develop, refine and implement policy measures to support SMEs that are critical to Ireland’ s economic performance and an important source of employment across the country. The Survey has been taken on an annual basis since 2023, where it had previously covered periods of 6 months The latest SME Credit Demand Survey, covering January to December 2024, shows credit demand raised slightly from the previous year, with 20% of SMEs reporting that they applied for ba nk finance, compared

since 2023, where it had previously covered periods of 6 months The latest SME Credit Demand Survey, covering January to December 2024, shows credit demand raised slightly from the previous year, with 20% of SMEs reporting that they applied for ba nk finance, compared to 18% in 2023. When this is broken down by firm size, credit demand has increased slightly among micro and small companies to 16% and 24% respectively (both +1%) and increased substantially among medium sized companies to 21% (+4%). 74% of respondents cited they had sufficient internal funds as their reason for not seeking finance. Other stated reasons included a belief that current l ines of credit were sufficient (21%) and a preference to use internal finance (20%). Figure 1. SME demand of debt finance

Source: Department of Finance SME Credit Demand Survey Regarding approval rates, 92% of all SME credit applications were fully ( 91%) or partially (1%) approved at the time of surveying, an increase of 3% from the previous year.

The average cost of credit reported by the Central Bank of Ireland for outstanding loans was 4.9%, a decrease from 5.24% in 2023. 37% of SME Credit Demand respondents stated they were unaware of the interest rate attached to their outstanding loans, compared to 42% of respondents in 2023. Interest rates for SMEs in Ireland are typically higher than the European average; however, consecutiv e surveys have shown that only 6% of respondents reported the cost of credit as their reasoning for not seeking it. 36 39 36 31 30 23 23 20 20 18 17 17 18 20 64 61 64 69 70 77 77 80 80 82 83 83 82 80

26 36 30 24 24 20 18 15 14 16 11 12 15 16 41 41 39 38 34 24 26 24 25 18 19 19 23 24 41 43 39 32 34 28 26 22 23 21 36 22 17 21 -200 -180 -160 -140 -120 -100 -80 -60 -40 -20 0 20 40 60 0 20 40 60 80 100 120 140 160 Sept '11 Sept '12 Sept '13 Sept '14 Sept '15 Sept '16 Sep t '17 Sept '18 Sept '19 Sept '20 Sept'21 Sept'22 Jan - De c '23 Jan - Dec '24 Requested Not requested Micro Small Medium 7

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Alternative sources of SME financing Equity Finance 2024 was a record-breaking year for SMEs, according to the Irish Venture Capital Associat ion (IVCA), which covers both business angel and venture capital fund investments in Irish SMEs. EUR 1.48 billion was invested in Irish tech SMEs, up 9% from 2023’s level. Q4 2024 alone saw EUR 535 million deployed, a 162% increase compared to the same quarter in 2023. This lifted the overall 202 4 figure close to EUR 1.5 billion, marking a historic high. However, a small number of large deals account for the majority of this growth. The trend in Ireland is mirroring the international experience, in a turbu lent 2024 investors have attempted to mitigate uncertainty by deploying large amounts of capital in well-established companies and have avoided investing at earlier stages. This is further evidenced by the fact that while headline figures are strong, smal ler deals showed a clear

growth. The trend in Ireland is mirroring the international experience, in a turbu lent 2024 investors have attempted to mitigate uncertainty by deploying large amounts of capital in well-established companies and have avoided investing at earlier stages. This is further evidenced by the fact that while headline figures are strong, smal ler deals showed a clear slowdown: EUR 3 –5 million deals fell by 37% to EUR 82 million and plummeted 56% in Q4 2024 and EUR 1 –3 million deals dropped 24% to EUR 105 million, and 63% in Q4 2024. Sub1 million rounds declined 4% overall and 19% in Q4 and seed rounds edged down 4% yearon-year, with a steep 55% Q4 fall. The strong Q4 2024 activity, especially in large rounds, confirms Ireland’s ability to scal e firms and attract significant capital. However, the reduced number of smaller rounds raises con cerns over the pipeline of early-stage companies. Ireland’s venture capital sector kicked off 2025 with a record-breaking EUR 532.8 million raised in Q1. The concentration in late-stage deals continued with over 80% of investment alloc ated into deals above EUR 10m, raising concerns that smaller startups are being sidelined. Other indicators In 2024, Irish corporate insolvencies rose again in 2024, up 17.29% to 746 liquidations. This equates to roughly 23 insolvencies per 10 000 businesses, nearly double the rate in 2021 (14 per 10 000), though still well below the long-term average of 50 per 10 000. Rescue mechanisms remain under-used: examinership and Small Company Administrat ive Rescue Process (SCARP) accounted for only about 5% of cases, with SCARP used in just 30 instances in. Receiverships declined slightly in 2024 (98 compared to 113 in 2023).

Rescue mechanisms remain under-used: examinership and Small Company Administrat ive Rescue Process (SCARP) accounted for only about 5% of cases, with SCARP used in just 30 instances in. Receiverships declined slightly in 2024 (98 compared to 113 in 2023). Creditors’ Voluntary Liquidations (CVLs) made up nearly 80% of all. Court -appointed liquidations began rising in late 2024, driven by defaults on pandemic-era tax debt warehousing arrangements 2. Looking at early 2025: • The trend has broadly stabilised, with 407 insolvencies reported in H1 2025 , almost unchanged from 412 in H1 2024. • However, creditor-led actions are increasing; court liquidations have more than doubled (19 to 42) and receiverships rose 37% (52 to 71) year-on-year. • Meanwhile, companyled restructuring (examinership + SCARP) increased by 56% in H1 2025 versus H1 2024. Although the overall volume of insolvencies has returned to pre-pandemic levels, the nature of failures is shifting - creditors are increasingly enforcing liquidations, and rescue processes remain relatively rare. With the unwinding of pandemic support schemes and potential economic headwinds, formal insolvency activity is likely to remain elevated.8 

FINANCING SMES AND ENTREPRENEURS 2026: IRELAND © OECD 2026

Government policy response Since 2011, the Government policy has focused on ensuring that all viable SME s have access to an appropriate supply of credit from a diverse range of bank and non-bank sources. In this regard, the Government has developed a number of initiatives to ensure that the supply of credit in the market is sufficient to meet the existing and future funding needs of SMEs. The National Enterprise Hub (NEH) is an online tool that helps Irish start-ups and SMEs search the range of government support available. The NEH brings together information and resources on over 250 government supports from 30 different

sufficient to meet the existing and future funding needs of SMEs. The National Enterprise Hub (NEH) is an online tool that helps Irish start-ups and SMEs search the range of government support available. The NEH brings together information and resources on over 250 government supports from 30 different departments and state agencies which can be accessed through the online portal. Ireland also continues to encourage investment in SMEs through a series of tax reliefs. For example, the Knowledge Development Box (KDB) is an OECD-compliant intellectual property (IP) regime for income arising from qualifying assets such as computer programs, inventions protected by a qualifying patent, or certified inventions for SMEs. Strategic Banking Corporation Ireland (SBCI) Established in September 2014, the Strategic Banking Corporation of Ireland (SBCI) is Ireland’s National Promotional Institution. The strategic mission of the SBCI is to deliver effecti ve financial support to Irish SMEs, including primary producers (farmers and fishers), that address gaps and failures in the Irish credit market, while driving competition and innovation, together with facilitating the efficient use of available EU resources. The SBCI achieves this through the provision of low-cost liquidity an d risk-sharing activities supporting the provision of appropriately priced, flexible funding to SMEs. By the en d of 2024, the SBCI provided a total of EUR 4.4 billion to more than 62 000 SMEs through the following schemes:

• Credit Guarantee Scheme
• Brexit Loan Scheme
• Brexit Impact Loan Scheme
• the COVID-19 Working Capital Scheme
• the COVID-19 Credit Guarantee Scheme
• the Future Growth Loan Scheme
• SME Energy Efficiency Loan Scheme
• Ukraine Credit Guarantee Scheme
• Growth and Sustainability Loan Scheme.

From 2018 onwards, after seeking to broaden its distribution capability and mark et coverage, the SBCI’s risk-sharing capability and products were developed further with the launch of several products aimed at ensuring that viable SMEs impacted by Brexit, COVID-19 or the large-scale aggressi on of Russia against Ukraine were provided with access to appropriate finance. The schemes in operation during 2024, and the

risk-sharing capability and products were developed further with the launch of several products aimed at ensuring that viable SMEs impacted by Brexit, COVID-19 or the large-scale aggressi on of Russia against Ukraine were provided with access to appropriate finance. The schemes in operation during 2024, and the remaining scheme in operation in 2025 are detailed below: Growth and Sustainability Loan Scheme The Growth and Sustainability Loan Scheme launched in September 2023 is a longterm loan guarantee scheme jointly developed by the Department of Enterprise, Trade and Employment and the Department of Agriculture, Food and the Marine. The scheme is underpinned by resources from the European Investment Bank Group (EIBG) and delivered by the SBCI. The EUR 500 million Growth and Sustainability Loan Scheme provides longer-term lending to SMEs, including farmers and fishers and small mid-caps. Loans of between EUR 25 000 and EUR 3 million, with terms of up to 10 years and attractive terms and conditions, are available through the s cheme to eligible SMEs through participating finance providers, with loans of up to EUR 500 000 available unsecured. 9

FINANCING SMES AND ENTREPRENEURS 2026: IRELAND © OECD 2026

The scheme targets a minimum of 30% of the lending volume towards environmental sustaina bility purposes with the aim of encouraging SMEs to take positive actions in support of the climate change agenda. Up to 70% of lending will be for strategic investments with a view to incr easing productivity and competitiveness and thus underpinning future business sustainability and growth. Loans for climate action and environmental sustainability purposes will also benefit from an additional interest rate discount. The Growth and Sustainability Loan Scheme will operate until 30 June 2026 or until the scheme has been fully subscribed (whichever is earlier). Up to 31 March 2025 1 651 loans were a pproved, to the value of EUR 367.4 million. Following approval, 1 448 loans were drawn down to the value of EUR 278.1 mi llion. Ukraine Credit Guarantee Scheme

fully subscribed (whichever is earlier). Up to 31 March 2025 1 651 loans were a pproved, to the value of EUR 367.4 million. Following approval, 1 448 loans were drawn down to the value of EUR 278.1 mi llion. Ukraine Credit Guarantee Scheme The EUR 1.2 billion Ukraine Credit Guarantee Scheme was launched on 30 January 2023 to make loans available to businesses impacted by rising costs as a result of the large-scale aggression of Russia against Ukraine. The Scheme provided an 80% state guarantee on loans with terms of between three months and six years and loan values of between EUR 10 000 and EUR 1 million. Loans were used for working capital or investment purposes. As a result of the high level of the state guarantee, loans were provided at interest rates lower than the current market rate for similar loans and loans up to EUR 250 000 were unsecured. Under the scheme, 4,597 loans were drawn down to the value of EUR 422.2 million. The Scheme was available to SMEs, small mid-caps and primary producers until 31 December 2024. Credit Review Service (Credit Review’) As mentioned above, established in 2010, Credit Review helps SMEs or farm borrowers who have had an application for credit of up to EUR 3 million declined or reduced by partici pating banks, and who feel that they have a viable business proposition. Credit Review also reviews cases where borrowers believe that the terms and conditions of their existing loan, or loan offer, are unfairly on erous or have been unreasonably changed to their detriment. Credit Review received 1 425 formal applications for review by the end of 2024. Of the se, 1 014 have reached a conclusion, with Credit Review upholding reviews (appeals) in favour of 597 borrowers, including those with a commitment to reassess the lending in the future if agreed performance hur dles are met in the short term. The upheld appeals resulted in EUR 82.8 million in credi t being made available to SMEs

those with a commitment to reassess the lending in the future if agreed performance hur dles are met in the short term. The upheld appeals resulted in EUR 82.8 million in credi t being made available to SMEs and farms, helping to protect/create an estimated 5 204 jobs. Microfinance Ireland (MFI) MFI was established in 2012 to provide loans to microenterprises with fewer than 10 emp loyees and with an annual turnover of less than EUR 2 million, which do not meet the conventional risk criteria applied by commercial lenders. MFI provides much-needed funding to help microenterprises meet payments for stock, working capital requirements and other overhead expenses through the provision of low-cost lending facilities with attractive terms and conditions. MFI also provides post-approval mentoring services to its borrowers through the Local Enterprise Office Network. The loan term is typically three years for working capital purposes and can be extended to five years for capital expenditures. Interest rates range from between 5.5% for clients of Local Enter prise Offices and other partners to 6.5% for direct applications. Since its establishment, and as of the 31 December 2024, 5 994 loans approved for the amount of EUR 92.6 million supporting 11 000 jobs.10 

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Seed & Venture Capital Scheme The Seed and Venture Capital Scheme 2025 –2029, operated by Enterprise Ireland, is a EUR 250 million initiative designed to strengthen the