Important Customer Notice Business Banking

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Important Customer Notice

KBC Bank Ireland would like to draw your attention to some important information.
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KBC Business Loans

Please note: We are no longer accepting applications for this product. If you made an application on or before the 15th July 2022 it will continue to be processed as normal.

Business Loans Download Booklet

Here's what you need to know

We've put together some useful tips and frequently asked questions for you.

What's happening?
KBC Secured and Unsecured Business Loans will move to Bank of Ireland. This includes all loans supported by the Strategic Banking Corporation of Ireland under the Future Growth Loan Scheme.
What to expect...
If you are an existing customer you will shortly receive a booklet which clearly outlines what is happening to all KBC products in detail. Should we receive ministerial approval, KBC will send you a letter within the next few weeks with more details about what’s happening to your Business Loan. In the future, should we receive ministerial approval, Bank of Ireland will write to you as well with important information.
What you need to do...
You should continue to make your Business Loan repayments as normal until your loan transfers to Bank of Ireland. Make sure your contact details are correct and up to date so we can keep you informed, and Bank of Ireland can contact you directly about the transfer of your Business Loan.

Guide to Next Steps


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Business Loans Help Hub

What is changing?

Are you an existing customer? We've put together some useful information for you to help you prepare for the changes ahead.

Your Business Loan


You will keep your Business Loan interest rate margin applicable at the date of the transfer when your loan moves to Bank of Ireland.

Bank of Ireland will be in touch with you regarding your payment methods.

If there is a guarantor on your loan their obligations under the guarantee will also be transferred to Bank of Ireland along with the Business Loan.

Any changes by Bank of Ireland to your terms and conditions must be made in line with all regulatory and contractual obligations, including providing you with sufficient notice of these changes.

Loans supported by the Strategic Banking Corporation of Ireland (SBCI) will continue to have the benefit of the Government guarantee.

Top FAQs


Are you an existing customer and need some additional support? Check out our FAQs:

I have a Business Loan with KBC, what will happen to it?

Should a Binding Agreement with Bank Of Ireland  receive ministerial approval, your Business Loan will transfer to Bank of Ireland at a future date.

However, you will continue to be afforded all the relevant legal and regulatory protections. The terms and conditions of this contract will be honoured by KBC. Should your account be transferred, Bank of Ireland may update your terms and conditions. Any changes to your terms and conditions must be made in line with all regulatory and contractual obligations, including providing you with sufficient notice of these changes.  

When there are further updates we will write to you with any additional information and support you may require.  We will ensure you are provided with plenty of notice of any impact and/or changes to your account in line with all legal and regulatory protections.

I have recently completed an application how will the announcement effect this?

We are no longer accepting Business Term Loan applications.

In order for your loan application to be completed we must receive all additional documentation 30 days from the date they were requested. If you are successful in your application, you must drawdown the facility by the drawdown dates set out in your facility letter.

Should you wish to continue with your application and you drawdown your funds, your account will transfer to Bank of Ireland subject to full ministerial approval.

If I have a Business Loan Offer, what does this announcement mean for me?

If you have received an approved Loan Offer and you have signed and returned the Loan Offer to KBC, this means there is a contract in place between you and KBC. The terms and conditions of this contract will be honoured by KBC.

Should your account be transferred, Bank of Ireland may update your terms and conditions. Any changes to your terms and conditions must be made in line with all regulatory and contractual obligations, including providing you with sufficient notice of these changes.  
If you have not yet signed and returned your Loan Offer and you wish to proceed with your loan, you should review the terms of your offer letter, seek appropriate independent legal and financial advice, and ensure you accept the offer within the timeframe set out in the offer letter.

Funds can be drawn down in line with the terms and conditions of your offer letter.  Whether your Loan Offer is a Strategic Banking Corporation of Ireland (SBCI) loan, or a standard business loan, terms and conditions remain the same. As always, updated financial information may be required prior to drawdown of your Loan. This is to ensure your circumstances have not changed since application.

If you have any queries in relation to your Business Loan Offer, please contact your dedicated Business Partner.

I have Strategic Banking Corporation of Ireland (SBCI) supported Loan Offer, what will this announcement mean for me?

If you have received an approved Loan Offer and you have signed and returned the Loan Offer to KBC, this means there is a contract in place between you and KBC. The terms and conditions of this contract will be honoured by KBC.

Should your account be transferred, Bank of Ireland may update your terms and conditions. Any changes to your terms and conditions must be made in line with all regulatory and contractual obligations, including providing you with sufficient notice of these changes.  
If you have not yet signed and returned your Loan Offer and you wish to proceed with your Loan, you should review the terms of your offer letter, seek appropriate independent legal and financial advice, and ensure you accept the offer within the timeframe set out in the offer letter.

Funds can be drawn down in line with the terms and conditions of your offer letter.  Whether your Loan Offer is a Strategic Banking Corporation of Ireland (SBCI) loan, or a standard Business Loan, terms and conditions remain the same. As always, updated financial information may be required prior to drawdown of your loan. This is to ensure your circumstances have not changed since application.

If you have any queries in relation to your Business Loan Offer, please contact your dedicated Business Partner.

If my Loan Offer expires what does this mean for me?

If your Business Loan Offer expires as per the specific terms and conditions of your offer letter, we are no longer accepting Business Term Loan applications.

In order for your loan application to be completed we must receive all additional documentation 30 days from the date they were requested. If you are successful in your application, you must drawdown the facility by the drawdown dates set out in your facility letter.

Should you wish to continue with your application and you drawdown your funds, your account will transfer to Bank of Ireland subject to full ministerial approval.

If I drawdown my Business Loan with KBC, what will happen to my Loan in the future?

Should a Binding Agreement with Bank Of Ireland receive ministerial  approval, your Business Loan will transfer to Bank of Ireland at a future date.

However, you will continue to be afforded all the relevant legal and regulatory protections. The terms and conditions of this contract will be honoured by KBC.

Should your account be transferred, Bank of Ireland may update your terms and conditions. Any changes to your terms and conditions must be made in line with all regulatory and contractual obligations, including providing you with sufficient notice of these changes.  

When there are further updates we will write to you with any additional information and support you may require.  We will ensure you are provided with plenty of notice of any impact and/or changes to your account in line with all legal and regulatory protections.

If I am drawing down my Business Loan in stage payments what does it mean for me?

If you are drawing down your facility by way of stage payments, all terms and conditions attaching to the facility and each stage payment as set out in your loan offer will remain applicable for both Strategic Banking Corporation of Ireland loans and standard Business Banking Loans.

 

Important Information about your KBC Business Loan

Note: a prepayment fee may apply. Please speak to your Business Partner for more 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. Lending is only available to Residents of the Republic of Ireland.

You can see our Business Banking Variable Rate Policy Statement here.

Variable rate loan:

Warning: The cost of your loan repayments may increase

Fixed rate loan:

​Warning: You may have to pay charges if you repay early, in full or in part, a fixed-rate credit facility

Warning: if you do not meet the repayments on your credit facility agreement , your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.