Brexit Loan Scheme
The Strategic Banking Corporation of Ireland launched the Government’s Brexit Loan Scheme in March of this year and the revised SME Credit Guarantee Scheme in July 2018. They schemes aim to support small and medium businesses to access credit by providing an 80% guarantee to eligible applicants. The schemes may be of interest to small businesses in Galway East.
To be eligible a business must be a viable business with under 500 employees, must be impacted by Brexit and must meet the scheme criteria. Loans are between €25,000 and €1.5 million at a maximum interest rate of 4%. The term ranges for 1 year to 3 years and optional interest-only repayments may be provided at the start of the loans. Loans can be used as future working capital requirements to fund innovation, change or adaptation of the business to mitigate the impact of Brexit.
If you have further queries about the Brexit Loan Scheme, visit website – https://sbci.gov.ie/brexit-loan-scheme
Or contact [email protected] or call 1800 804482.