UPDATE FRIDAY MARCH 13th 2pm BUSINESS SUPPORTS

Covid – 19 Business supports


Please see below for the various measures that are in place so far with regards Covid-19. This list will change as we receive updates and further information with regards the supports put in place. Please keep an eye on the LEO wexford website's news section HERE and also @leowexford on twitter. 


The Department of Business, Enterprise and Innovation announced a number of supports for businesses facing challenges arising from the current Covid-19 situation.

  • Microfinance Ireland loans – maximum loan increased from €25,000 to €50,000 to specifically deal with exceptional circumstances that micro-enterprises are facing. Applications for cashflow loan will be open to businesses in any sector that have a projected or actual loss of at least 15% in turnover or profit as a direct result of COVID-19. Applications can be made online at https://microfinanceireland.ie/  or via your Local Enterprise Office.  Further details are being worked on and an update is expected later today (Friday).

 

  • Local Enterprise Office - Currently working on detail of Voucher Scheme announce by Minister Humphreys on Tuesday. This will be a similar measure to the lean/productivity voucher with normal charges (€250) being applied in return for specialist consultancy support (value €2,500 - €10,000) to include business continuity planning. These vouchers are not subject to a competitive process and can be issued as per normal application process.

Business mentoring support for impacted firms will be offered via phone/Skype etc where possible.
 

 

  • Separately the Strategic Banking Corporation of Ireland is currently working to finalise the terms and conditions of the SBCI COVID19 Working Capital Scheme and the eligibility application process for this. The SBCI website https://sbci.gov.ie/ , will be updated as soon as these are finalised. In the interim if you wish to be kept informed on developments please email the SBCI at info@sbci.gov.ie

The Department is working with the European Commission on additional changes to State Aid De Minimis rules that may be required to ensure the enterprise development agencies can respond effectively.(De Minimis Aid is small amounts of State Aid given to an enterprise which cannot exceed €200,000 over any 3 fiscal years to any business regardless of size or location. De Minimis Aid can come from any State body, agency or department).

covid business