10 March 2020 – Repurposed credit guarantee scheme

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:
Level of Jurisdiction: National
Lead People/Agency:

Overview: The Irish Government repurposed its existing SME Credit Guarantee Scheme to assist small and medium business to obtain working capital to respond to COVID-19. The scheme can be used by businesses to obtain loans to support business changes in response to Covid-19.

Under the scheme, the government guarantees 80 percent of bank lending to qualifying small and medium businesses. Loans of up to €1 million will be available at terms of up to seven years with the possibility of a three to six month interest only payment period.

The scheme is operated by the Strategic Banking Corporation of Ireland and is available from participating banks.
Full details here: https://www.gov.ie/en/press-release/58fc07-minister-humphreys-announces-supports-for-businesses-impacted-by-cov/