Government supports - Republic of Ireland

• Turnover of up to €2 million 
• A balance sheet not exceeding €2 million

which are not in a position to avail of finance from banks or other commercial lending providers.  

• Up to three-year-term (or up to five years in certain circumstances) 
• No fees or hidden charges 
• No repayments for the first six months 
• Fixed repayments 
• No penalty for early repayment 

• First 6 months: 0% 
• 4.5% for Local Enterprise Office applications 
• 5.5% for direct applications 

• Have fewer than 250 employees 
• Have a turnover of €50 million or less (or €43 million or less on their balance sheet) 
• Are independent and autonomous i.e. not part of a wider group of enterprises 
• Have less than 25% of their capital held by public bodies 
• Is established and operating in the Republic of Ireland 

• involved in the primary agriculture and/or aquaculture sector 
• in financial difficulty (excluding cashflow pressures caused by COVID19 virus impact) 
• bankrupt or being wound up or having their affairs administered by courts 
• have in the last 5 years entered into an arrangement with creditors, in the context of being bankrupt or wound-up or having their affairs administered by the courts 
• convicted of an offence concerning professional misconduct by judgement, fraud, corruption, involvement in a criminal organisation, money laundering or any other illegal activity where such illegal activity is detrimental to the European Union’s financial interest

• Max interest rate of 4%
• Interest rate is fixed for the period of the loan 
• Three-month interest-only payment period available (depending on lender’s assessment of application)

• Designed to support a range of debt products appropriate to the borrowing needs of SMEs.
• Term loans and other products such as stocking facilities and performance bonds will be covered
• Can be used by businesses to obtain loans to support changes they need to make to their business in response to Covid-19
• Encourages additional lending to SMEs by providing partial (80%) Government guarantees to banks in order to help SMEs impacted by COVID-19 related issues to have access to sufficient working capital
• Operated on behalf of the Department of Business, Enterprise and Innovation by the Strategic Banking Corporation of Ireland (SBCI) and is available from the participating lenders (AIB, Bank of Ireland and Ulster Bank)

• inadequate collateral 
• novel business market, sector or technology which is perceived by lenders as higher risk under current credit risk evaluation practices
• need for refinancing caused by the exit of an SMEs lender from the Irish market  

Viable micro and small and medium sized enterprises (SMEs) that meet the eligibility criteria, i.e.  

• fewer than 250 employees 
• turnover of €50 million or less (or €43 million or less on their balance sheet) 
• independent and autonomous i.e. not part of a wider group of enterprises 
• less than 25% of capital held by public bodies 
• established and operating in the Republic of Ireland 

Viable Small Mid-Cap enterprises, ie. not an SME but has fewer than 500 employees.  

Excluded are those which are: 

• involved in the primary agriculture and/or aquaculture sector 
• in financial difficulty (excluding cashflow pressures caused by COVID19 virus impact) 
• bankrupt or being wound up or having its affairs administered by courts 
• have in the last 5 years entered into an arrangement with creditors, in the context of being bankrupt or wound-up or having its affairs administered by the courts 
• convicted of an offence concerning professional misconduct by judgement, fraud, corruption, involvement in a criminal organisation, money laundering or any other illegal activity where such illegal activity is detrimental to the European Union’s financial interest

Excluded:  

• Refinancing of existing debts  
• Property-related activities

• The Credit Guarantee Scheme does not substitute for conventional lending that would otherwise have taken place
• Businesses seeking to avail of the guarantee scheme can approach a participating lender

• A guarantee rate of 80% for the State with the lenders retaining 20% of the risk of the loan.
• The removal of any portfolio cap for individual lenders.  A portfolio cap has been a feature of previous CGS.  However, the removal of the cap for the COVID-19 CGS is essential in order to ensure lenders provide an interest rate reduction to borrowers and also comply with the Capital Requirements Regulation. 
• The current standard facility size of €10k to €1 million under the current Acts will remain for the COVID-19 CGS.
• The products covered under the scheme will include a broad range of credit facilities including overdrafts, working capital and term loan facilities. 
• Capital and/or interest moratoria for specific periods of time (up to one year) will be permitted under the Scheme but any decision regarding such moratoria will be at the discretion of the individual lender based on their assessment of their customer. 

• Eligible SMEs (with employees of up to 250)
• Small Mid-Cap businesses 
• Primary agriculture (farmers) and 
• Seafood sectors 

Applications for eligibility are on the SBCI website as follows:

SME Business - https://sbci.gov.ie/products/future-growth-loan-scheme/smes-application-form 

SME Agriculture - https://sbci.gov.ie/products/future-growth-loan-scheme/primary-agriculture-application-form

Exclusions can be found here. 

• €100,000 (€50,000 for farmers) to a max of  €3 million per eligible business
• Unsecured loans up to €500,000.

The government launched the first €300 million round of the Scheme last year helping 1,150 SMEs, farmers and fishers to date make strategic investments to grow their businesses. This will see the European Investment Bank Group provide an additional €500m for the Scheme, bringing the total investment in the Scheme to €800m.

• Operated by the Strategic Banking Corporation of Ireland (SBCI) through participating lenders 
• A Business Plan must be completed as part of the application process for loans of more than €250,000 
• Applicants must choose loan purpose:
  • Investment in Machinery or Equipment 
  • Investment in Research and Development 
  • Investment in Business Expansion 
  • Investment in Premises Improvement 
  • Investment in Process Innovation 
  • Investment in People and/or Systems  

Key terms 

Interest rate

• First 6 months 
  • 4.5% for loans up to €249,999 
  • 3.5% for loans more than or equal to €250,000 
• Optional interest-only repayments available in certain circumstances 

• Grant equivalent to the rates bill of the business in 2019.
• It is a contribution towards the cost of re-opening or keeping a business operational and re-connecting with employees and customers.
• It can be used to defray ongoing fixed costs, for replenishing stock and for measures needed to ensure employee and customer safety.
• Company must commit to remain open or to reopen if it was closed.
• Business must declare the intention to retaining employees that are on The Temporary Wage Subsidy Scheme (TWSS) and to reemploy staff on the Pandemic Unemployment Payment where applicable.

Key terms 

• Applications can be made online to local authorities from 22^nd May.
• Processing of applications and payment of the Restart Grant will depend on the initial surge of applications but, as far as is feasible, will be prioritised according to scheduled re-opening dates in the national Roadmap.

Manufacturing and internationally traded services companies with capital with: 

• 10 or more full time-employees
• For SMEs — must have applied for and have been unable to raise sufficient funding from the market, a financial institution 
• Large companies — must have applied for and been unable to raise sufficient funding from an appropriate financial institution. 

This scheme has been expanded to include direct grant support to viable businesses, in addition to equity and repayable advances.

• 3-year grace period 
• Full repayment by the end of year 5, on successful achievement of the project objective 

• 10 or more full-time people on their payroll on the 29th of February 2020 
• An annual turnover in their most recent financial statements not exceeding €5 million

• Repayable funding of up to €50,000 available for companies with annual turnover of €1.5 million - €5 million
• Repayable funding of up to €25,000 available for companies with turnover of less than €1.5 million 

• Three-year grace period
• Full repayment by the end of year five, on successful achievement of the project objective 

• It will be made available through a sub-portfolio within ISIF
• The fund will act as an accelerator, investing on a commercial basis in businesses that can meet the investment requirements and can use ISIF investment to return to long-term viability

• Part of the Sustaining Enterprise Fund, this fund helps High growth potential start-ups (HPSUs)  - which can develop innovative technologies, products and services for sale on world markets to – to maintain liquidity and sustain their businesses in the short to medium term
• Allows Enterprise Ireland to offer equity investment to HPSU clients, on a co-funded basis

Existing Enterprise Ireland clients who qualify as a small enterprise and have been in existence for less than five years and satisfy one or more of the following criteria:

• For companies with no trading record at the time of application, at least 15% of the total operating costs must relate to R&D expenses in the current fiscal year, and/or 
• For companies with a trading record, at the time of application, at least 15% of the total operating costs must relate to R&D expenses, in at least one of the three years preceding the application, and/or 
• Have an innovative business plan for the development of products, services or processes which are technologically new or substantially improved compared to the state-of-the-art in its industry in the European Community, and which will carry a risk of technological or industrial failure. This will be laid out in a business plan.

Investment level determined following an assessment of the business plan and supporting evidence, and based on the company's viability 

• Growth potential
• Potential value to the Irish economy in terms of number and quality of jobs created and exports generated
• Level of risk 
• Quality and innovative aspects of the business plan
• Achievement of previous milestones or Enterprise Ireland investment targets (for subsequent rounds of funding). 

The fund is up to €800,000  

• Investment goes towards the achievement of an overall business plan, rather than funding towards discrete elements of a business plan, such as R&D or employment creation
• Potential applicants should contact their Enterprise Ireland Adviser to discuss applications

• manufacturing or tradeable service business
• registered in either NI or ROI
• engaged in cross-border trade
• fewer than 250 employees
• annual turnover of less than €44.5million (or Sterling equivalent).

Not eligible

• Businesses involved in retail, distribution and agriculture are not eligible for assistance under this scheme.

• All applications are assessed against the eligibility criteria.
• Sufficient detail must be provided in the application to allow for assessment (where limited detail is provided, your application is likely to be unsuccessful). 
• Priority will be given to businesses who best meet eligibility criteria and have clearly identified how this support will assist the business during this COVID-19 emergency period.  
• Applicants must have a satisfactory trading history (min. 18 months & established turnover)
• Applicants must have the capacity to deliver the project

• Funding is provided under the European Commission Regulation on De Minimis Aid as stated in the application for Emergency Business Solutions.
• Business must provide InterTradeIreland with details of all other De Minimis aid which has been granted to the business within the past three years.
• A false declaration by a business resulting in the threshold of €200,000 (or sterling equivalent) being exceeded could later give rise to the aid being recovered with interest.
• Applications can be made online as early as possible as there is limited availability.

• manufacturing or tradeable service business
• registered in either NI or ROI
• engaged in cross-border trade
• fewer than 250 employees
• annual turnover of less than £40million (or Euro Equivalent)

Not eligible

• Businesses involved in retail, distribution and agriculture

• Have a satisfactory trading history (min. 18 months & established turnover)
• Have the capacity to deliver the project 

• The funding is provided under the European Commission Regulation on De Minimis Aid as stated in the application for E-Merge.
• The business must provide InterTradeIreland with details of all other De Minimis aid which has been granted to the business within the past three years.
• It should be noted that a false declaration by a business resulting in the threshold of €200,000 (or Sterling equivalent) exceeded could later give rise to the aid being recovered with interest.
• Applications can be made online as early as possible as there is limited availability.

• Direct Mail fund worth €1m for 1000 SMEs to market their business across Ireland,
• Discounted prices for the Covid-19 period, starting with 25% discount on parcels

• A dedicated eCommerce advice hub providing information and expert tips for help SMEs to start trading online.
• With links to the Local Enterprise Offices (LEOs) and other SME networks, small businesses will have access to the best information and inspiration in just a few clicks.

• Direct Mail funding will be allocated on a first come-first service basis from Monday 24th May.
• By registering for the An Post Advantage Card at anpost.com/commerce, SMEs can also avail of bulk-buy discounts on booklets and boxes of stamps.
• An Post also provides lodgement and withdrawal facilities for AIB and Ulster Bank business customers, and Corporate Deposits (for business cash) at post offices, as well as Merchant Services for SMEs.

Applicants to the fund should ideally be able to demonstrate the following:

• that they are able to clearly demonstrate that product or service has reached Minimal Viable Product (MVP) stage, and that the product is, at a minimum, live in beta.
• that the product or service they produce has demonstrable customer validation ideally with (trial and/or paying) customers.
• a fully articulated proposition addressing a clear gap in the market with market research conducted with customers/potential customers.
• evidence of innovation, export potential and employment capacity.
• clear export market opportunity for the proposed product or service.
• clear knowledge of the competitive landscape.
• clear execution plan outline, identifying suitable channels to international markets.

• Assessments are undertaken on the applications submitted; it is important to note that the greater the progress the applicant has undertaken towards generating sustainable revenues the stronger the application. 
• Applications from projects that are at idea, concept or design stage may be considered to require further development before applying for the competitive start fund.
• All applications to the Competitive Start Fund must be made via the Enterprise Ireland online application system during call open dates.
• Two Competitive Start Fund competitions opened for applications on Tuesday 7th July 2020, closing on Tuesday 18th August at 3pm.

Manufacturing or tradable service businesses registered on the island of Ireland (North or South) that:

• are engaged in cross border trade
• have a satisfactory trading history (min. 18 months & established turnover)
• have the capacity to deliver the project
• have fewer than 250 employees and an annual turnover of less than £40million (or Euro Equivalent)

Businesses involved in retail, distribution and agriculture are not eligible for assistance under this scheme.

• The funding is provided under the European Commission Regulation on De Minimis Aid as stated in the application for Emergency Business Solutions. 
• The business must provide InterTradeIreland with details of all other De Minimis aid which has been granted to the business within the past three years. 
• It should be noted that a false declaration by a business resulting in the threshold of €200,000 being exceeded could later give rise to the aid being recovered with interest.

https://intertradeireland.com/sales-growth/covid-19-supports/covid-19-emergency-business-solutions/

To help companies make informed decisions about what immediate measures and remedial actions should be taken, to protect staff and sales. Designed to go towards third-party consultancy fees for activities such as:  

• Developing business plans
• Assessing financial needs and options 
• Applying for emergency financial support, and  
• Implementing remote working 

If application is successful a qualified expert will be selected by Local Enterprise Office to work with the business on business continuity plans 

• Sole traders 
• Partnerships and  
• Companies who employ up to 50 people 

Excluded: clients of Enterprise Ireland, IDA or Údarás  na Gaeltachta

Clients of:

• Enterprise Ireland (EI)
• Údarás na Gaeltachta  
• IDA Ireland 
• Non-EI manufacturing or internationally traded services companies with over 10 full-time employees 

Not eligible 

• Companies active in the fisheries sector or in the primary production of agricultural products
• Companies operating in the coal and steel sector

Costs not covered:  

• Any expenditure incurred prior to the date of receipt of application in Enterprise Ireland
• Consultant expenses
• Sales-related expenses
• Trade Fair participation costs
•  Any Internal costs of the company (e.g. Salaries & Overheads)
• Receipt of other grants from Enterprise Ireland may impact on your eligibility for support under this initiative

• The EI Business Financial Planning Grant is available to meet the costs of a consultant from the  “Approved Financial Consultants Directory”

The service provided should focus on the operations of the company in terms of: 

• Crisis response where appropriate 
• Sustaining Operations including process re-engineering (Lean, etc) 
• Planning for resilience post crisis

• Limit of one voucher per company in general, although Enterprise Ireland may offer further vouchers where a company has more than one distinct operation (to a maximum of three)
• Can be used on up to three days of management advice and/or training  
• The voucher may be used to obtain services from approved providers  
• It is expected that the support would be provided over a relatively short period but can be spread out over a maximum of 6 weeks 
• Eligible activities do not include general consultancy such as market research or project implementation
• Scheme is a short-term measure and may be withdrawn once the current emergency period ends 

Businesses with: 

• Limited or no e-commerce presence 
• 10 or fewer employees 
• Turnover less than €2 million 
• Trading for at least six months

• Business must be located in the area covered by the LEO to whom they make their application  
• It is worth noting that businesses who have previously availed of the scheme are permitted to apply again where upgrades are required

• Indigenous retailers  
• Existing online presence (website or social media) 
• 10 or more employees at full-time equivalent basis on or before 29 February 2020 
• Have a retail outlet and derive majority of revenue from retail outlet(s) 

• Minimum project cost of €12,500 applies
• Maximum grant: €40,000
• Companies must be indigenous 

• Business Priming 
• Business Expansion 
• Feasibility Study
• Technical Assistance for Micro-Exporters