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https://www.taxreturnhelp.ie/2020/06/3917/

June 2, 2020

Covid 19 working capital loan

A scheme from SBCI to fund working capital requirements or to fund innovation, change or adaptation of the business to reduce the impact of Covid-19 for Irish small to medium sized businesses

The working capital loan details are

  1. Loan amounts of between €25,000 to €1.5m per eligible enterprise (see the State Aid section below for further details)
  2. Maximum interest rate of 4%
  3. Loan terms ranging from one year to three years
  4. Loans unsecured up to €500,000
  5. Optional interest-only repayments may be available at the start of the loans
  6. The loan amount and term is dependent on the loan purpose

SMEs/small mid-caps must satisfy the Covid-19 criterion and one of the innovation criteria:

a) The business is impacted by the Covid-19 virus resulting in business turnover or profitability being negatively impacted by a minimum of 15%

b) One of 11 innovation criteria set out by SCBI

Subject to qualifying criteria and conditions

For more information go to following link

https://sbci.gov.ie/products/covid-19-working-capital-loan-scheme

Any queries on the above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie

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About Us

Oliver Niland is a Chartered Accountant and a Tax Specialist with over 15 years experience of helping small business with tax issues and accounting challenges.

In addition, Oliver advises small businesses in terms of growing their business.

Contact Us

Contact us at:

Phone:   (091) 763817

Email:    oliver@taxreturnhelp.ie

Unit 8,  Royal Rock Park,

Ballybane Industrial Estate,

Galway.

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Contact Us

Oliver Niland & Co – Chartered Accountant
Unit 8, Royal Rock Park,
Ballybane Industrial Estate,
Galway.

Telephone:  (091)  763817
Mobile:  (087) 984 6979
Email:  oliver@taxreturnhelp.ie 

(Right across from Thomas McDonagh’s hardware store and directly behind the Royal Rock Café )