08 April 2020 – Provided repayable advances to manufacturing and internationally traded services businesses

This item is sourced from COVID-19 Policy Watch co-ordinated by Policy. We are in the process of gathering further information and aligning taxonomies for these items.

Type of Intervention: Business support
Sectors Involved: Industry interventions
Level of Jurisdiction: National
Lead People/Agency:

Overview: The Irish Government provided €180 million for repayable advances of up to €800,000 to businesses operating in the manufacturing and internationally traded services sectors. The government calls the scheme the Sustaining Enterprise Fund.

The scheme is intended to support companies that have been impacted by COVID-19 and are vulnerable but viable. It is open to companies with 10 or more employees.

Applicants must provide a Business Sustainment Project Plan outlining the eventual stabilisation of the business and a return to viability. The grants will only be repayable if and when a business returns to financial good health.

The fund will be operated by Enterprise Ireland. The fund is intended as an alternative source of credit after a company has exhausted other credit options.
Full details here: https://www.gov.ie/en/press-release/97e147-minister-humphreys-announces-major-expansion-of-business-supports-fo/