Minister Humphreys announces supports for businesses impacted by COVID-19
Minister of Business, Enterprise and Innovation (DBEI), Heather Humphreys TD, has announced details on the package of supports she has put in place for businesses impacted by COVID-19, 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.
Consumer spending increases in January
Irish consumers continued to increase their spending at a strong pace in January 2016. Results from the latest Visa Europe Consumer Spending Index show that there was a larger increase in face-to-face expenditure in January than seen at the end of the year, with the rate of expansion accelerating to +5.6 per cent.Read more