MINISTER HUMPHREYS ANNOUNCES SUPPORTS FOR BUSINESSES IMPACTED BY COVID-19
The Minister of Business, Enterprise and Innovation (DBEI), Heather Humphreys TD, announced details on the package of supports she has put in place for businesses impacted by COVID-19.
The Department of Business, Enterprise and Innovation have put a range of supports in place, including:
A €200m Strategic Banking Corporation of Ireland (SBCI) Working Capital scheme for eligible businesses impacted by COVID-19. Loans of up to €1.5m will be available at reduced rates, with up to the first €500,000 unsecured. Applications can be made through the SBCI website.
A €200m Package for Enterprise Supports including a Rescue and Restructuring Scheme available through Enterprise Ireland for vulnerable but viable firms that need to restructure or transform their business.
The maximum loan available from MicroFinance Ireland will be increased from €25,000 to €50,000 as an immediate measure to specifically deal with exceptional circumstances that micro-enterprises – (sole traders and firms with up to 9 employees) - are facing. Applications can be made through the MFI website or through your local LEO.
The Credit Guarantee Scheme will be available to COVID-19 impacted firms through the Pillar Banks. Loans of up to €1m will be available at terms of up to 7 years. Full Article Here