The Local Enterprise Office in Galway will be providing vouchers worth €2,500 up to €10,000 (with 50:50 match funding ) to support business continuity preparedness, innovation, and productivity.
Minister for the Diaspora and International Development Ciaran Cannon said these supports are of great importance to businesses impacted by Covid-19.
Deputy Cannon said; “This is a very anxious time for businesses across Ireland and the Government is providing all possible assistance in helping them navigate the weeks and months ahead.
“As a result, the Department of Business, Enterprise, and Innovation have put a range of supports in place, including a €200 million Strategic Banking Corporation of Ireland Working Capital scheme for eligible businesses impacted by Covid-19. Loans of up to €1.5 million will be available at reduced rates, with up to the first €500,000 unsecured and applications can be made through the SBCI website https://sbci.gov.ie/.
“There is also 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 nine employees - are facing and applications can be made through the MFI website https://microfinanceireland.ie/ or through your local LEO.
“The Credit Guarantee Scheme will be available to firms impacted by Covid-19 through the Pillar Banks and loans of up to €1 million will be available at terms of up to seven years.
“I encourage businesses in the county to take advantage of these supports.”