The Covid-19 pandemic has had an unprecedented impact on businesses in terms of the disruption it has caused to so many different aspects of their business model, their operations and their finances.
In the early stages businesses were forced to react quickly to the crisis, improvising and responding to the wide range of challenges arising, which affected different sectors in different ways. However, a common issue for all businesses has been the need to manage the cashflow.
The range of Government supports has now been enhanced with the launch of a longer term financial support in the form of a new €2bn “Covid-19 Credit Guarantee Scheme”, provided by the Government through the Departments of Business, Enterprise and Innovation (DBEI) and Department of Agriculture Food and the Marine (DAFM) and operated by the Strategic Banking Corporation of Ireland (SBCI).
The scheme is distributed to Small and Medium Sized Enterprises (SMEs), Small Mid-Caps and Primary Producers through approved lenders under the scheme.
This informative guide from the Banking & Payments Federation Ireland will provide you with details on:
- The Covid-19 Credit Guarantee Scheme;
- The eligibility criteria of the scheme and how you can access it;
- The information you will need to provide to your lender when applying for the scheme.