The Irish Government has announced a major expansion of business supports for SMEs – €1 billion in Liquidity Measures available for SMEs; €180 million Sustaining Enterprise Fund launched.

The key points are:

€1 billion in liquidity measures available for SMEs
€180m Sustaining Enterprise Fund launched
  • Expansion of two SBCI Loan Schemes by €450m to provide an extra €250m for working capital and €200m for longer-term loans, bringing the total allocation to support liquidity in companies affected by the COVID-19 crisis to €650m
  • €180m Sustaining Enterprise Fund for firms in the manufacturing and international services sectors
  • Extension of supports for online trading to €7.6m
  • Expansion of Microfinance Ireland funding by €13m to €20m for COVID-19 loans with interest rates dropped from 7.8% to 4.5%
  • Free mentoring, free online training for all businesses