Wednesday, 8 May 2019

Questions (1149)

Carol Nolan

Question:

1149. Deputy Carol Nolan asked the Minister for Agriculture, Food and the Marine if he will consider extending the closing deadline for application to the Brexit loan scheme; and if he will make a statement on the matter. [18698/19]

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Written answers (Question to Agriculture)

The €300 million "Brexit Loan Scheme" was developed in cooperation with the Department of Business, Enterprise and Innovation (DBEI) and the Strategic Banking Corporation of Ireland (SBCI) to provide working capital support to enable eligible Irish businesses to implement the necessary changes to address the challenges posed by Brexit. The Scheme opened for applications on 28th March 2018 and it will remain open until 31st March 2020.

At 26th April, there were 600 eligibility applications received, of which 497 are approved and 16 are ineligible. The total number of loans progressed to sanction at bank level is 117 to a value of €25.1m, 23 of which relate to food businesses to a value of €7.4m.

The operation of the Scheme, including the closing date, will be kept under review.