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
- Loan amounts of between €25,000 to €1.5m per eligible enterprise (see the State Aid section below for further details)
- Maximum interest rate of 4%
- Loan terms ranging from one year to three years
- Loans unsecured up to €500,000
- Optional interest-only repayments may be available at the start of the loans
- 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
