AIB Small Business Recovery Scheme

We know from talking to our customers and from our research that the small business community is experiencing significant challenges and trading conditions remain very difficult.

Securing sales and getting paid are the two big issues putting significant pressures on cashflow for most, if not, all Irish small businesses.

While access to adequate credit is a key need we also know that small business customers have other concerns. These include the need for regular communication and contact with someone who can help and support them. Small business owners also want to engage with people who understand the challenges they face and who can provide advice and solutions for their financial needs.

In AIB, we are acutely aware of our role and our responsibility to rebuild confidence which is an essential ingredient for economic recovery.  We are determined to play a leading role and the introduction of the AIB Small Business Recovery Scheme is indicative of our intent in this regard.

I hope that the contents of this scheme may be just what is needed for your business at this stage of the economic cycle and I would urge you to make contact with your local branch Relationship Manager to discuss the options available to you.

Sincerely yours,
Robbie Henneberry
Managing Director, AIB RoI

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You can select a chapter from the list below, or download the full brochure in PDF format from our Related Information links.

1. What is the aim of the AIB Small Business Recovery Scheme?
2. How can the AIB Small Business Recovery Scheme help you? 
3. What do I need to do?
4. Who can apply for the AIB Small Business Recovery Scheme?
5. What products can be included for restructuring under the AIB Small Business Recovery Scheme?
6. What products are excluded for restructuring under the AIB Small Business Recovery Scheme?
7. What is meant by a viable business?
8. How to apply for the AIB Small Business Recovery Scheme
9. Viability Plan , Asset/Liability & Cashflow Forecast templates

What is the aim of the AIB Small Business Recovery Scheme?

The main aim is to support viable small businesses who may be experiencing current difficulties. We can achieve this by helping your businesses to stabilise cashflow through the restructuring of existing AIB loans and overdrafts. We will also consider the provision of additional working capital facilities where your business can demonstrate viability over the longer term.

AIB Relationship Managers throughout the country are available to discuss how the AIB Small Business Recovery Scheme could help your business.

In AIB, we are fully committed in supporting viable businesses through these difficult times.

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How can the AIB Small Business Recovery Scheme help you:

AIB will restructure your existing AIB current account and loan commitments into one Recovery Loan subject to certain lending criteria and guidelines

This 'restructured debt' up to a maximum of EUR250,000 will be offered by way of:

• (a) Recovery Loan repayable over an agreed term with an 'interest only' option for up to the first two years
  
  AND (If required)
  
• (b) Additional Working Capital facilities subject to certain lending criteria and guidelines.

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What do I need to do?

Call to your AIB branch to discuss your current financial position and see how the AIB Small Business Recovery Scheme can support you.

As part of your application for the AIB Small Business Recovery Scheme, you must submit a completed Viability Plan* and provide at a minimum the following information to us:

• Current list of Debtors and Creditors by age profile
• Confirmation on current status of tax affairs for your business
• Signed and dated Asset/Liability profile* of your business and its promoters
• Two-year Cashflow Forecast*, which demonstrates your ability to service repayments over the recovery period.

In addition and where available, the following information would help to support your credit application and should be submitted:

• Management accounts for the current trading period
• Annual certified audited accounts for previous two years
• Details of security which may be offered to support your application
• * AIB Viability Plan, Cashflow Forecast and Asset/Liability templates are available for you to download in our related information section

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Who can apply for the AIB Small Business Recovery Scheme?

All existing AIB small business customers, including sole traders, partnerships, limited companies and farming enterprises with total AIB borrowings up to EUR250,000, excluding private dwelling house.

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What products can be included for restructuring under the AIB Small Business Recovery Scheme?

Business current account(s) and certain business loan commitments can be included as part of the AIB Small Business Recovery Scheme.

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What products are excluded for restructuring under the AIB Small Business Recovery Scheme?

• Non AIB debt such as loans with other financial institutions
• Certain forms of AIB debt such as Invoice Discounting, Asset Finance, European Investment Bank (EIB) loans, business credit card debt, etc
• Personal borrowings.

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What is meant by a viable business?

A viable business is a business that is currently in operation and is expected to continue trading for the foreseeable future with the following characteristics:

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How to apply for the AIB Small Business Recovery Scheme

Your AIB Business Relationship Manager is always ready to talk to you about financing your business and how AIB can support you, now, and in the future.

Call your branch today to discuss your financial needs, and see how the AIB Small Business Recovery Scheme can help your business.

If your business does not meet all of the criteria specified but you would like to discuss your specific financing requirements, come in and talk to your Relationship Manager in your local branch.

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Viability, Asset/Liability & Cashflow forecast templates

AIB Viability Plan, Cashflow Forecast and Asset/Liability templates are available for you to download from our Related Information links.

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Important Regulatory Information

Lending criteria, terms and conditions apply. Credit facilities are subject to repayment capacity and financial status and are not available to persons under 18 years of age. Security may be required.Allied Irish Banks, p.l.c. is regulated by the Financial Regulator.

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