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Minister Humphreys announces €1bn package of supports for COVID-19 impacted SMEs

Minister for Business, Enterprise and Innovation Heather Humphreys announced measures to help businesses adversely impacted by the COVID-19 restrictions.

Among the measures is an additional €450m expansion of two loan schemes operated by the Strategic Banking Corporation of Ireland (SBCI), bringing the total allocation to support liquidity in companies affected by the COVID-19 crisis to €650m.

  1. The Working Capital Loan Scheme, which provides liquidity support to businesses, will receive a further €250m, bringing the total fund to €450m.
  2. The Future Growth Loan Scheme, also operated by the SBCI, will receive an additional €200m that will be released in tranches to provide longer-term loans to firms that have been impacted by COVID-19.

The package is now worth €1 billion in liquidity measures including a new €180m Sustaining Enterprise Fund for firms in the manufacturing and international services sectors. Free mentoring and online training is also available for all SMEs. You can read more about additional business supports available on the Department’s dedicated page.