Tuesday, 3 December 2019

Questions (302)

Niamh Smyth

Question:

302. Deputy Niamh Smyth asked the Minister for Business, Enterprise and Innovation the status of the uptake of the Brexit loan scheme; the number of applications that have been applied for and granted; the counties in which these businesses are located; and if she will make a statement on the matter. [49753/19]

View answer

Written answers (Question to Business)

The Brexit Loan Scheme was launched in March of 2018 and provides relatively short-term working capital, for terms of up to three years, to eligible businesses with up to 499 employees to help them innovate, change or adapt to mitigate their Brexit challenges. The €23 million Exchequer funding (€14 million from my Department and €9 million from the Department of Agriculture, Food and the Marine) has been leveraged to provide a fund of up to €300 million over the lifetime of the scheme.

This scheme is open to eligible businesses from all regions of the country, including those in the Border counties, which are more likely to be exposed to Brexit-related impacts. Dublin aside, the most recent quarterly report indicates that the border region is the most active region in terms of eligibility applications for the scheme. The funding provided by the Department of Agriculture, Food and the Marine ensures that 40% of the fund will be made available to food businesses, which operate in a sector identified as most exposed to potential difficulties arising from the UK’s withdrawal from the EU.

As part of the application process for the Brexit Loan Scheme, applicants must demonstrate their exposure to Brexit. So far, the sectors most represented in these applications are manufacturing, wholesale and retail, and information and communication. As of 25 November, there have been 898 eligibility applications received, of which 810 have been approved and 214 loans progressed to sanction at bank level to a value of €46.68 million. It is noted also that 160 applications received relate to repeat/duplicate applications, as eligibility expires after six months.

The following table outlines the applications for the Brexit Loan Scheme on a per-county basis:

County

Total Number of BLS

Eligibility Applications

Total Number of Approved BLS Eligibility Applications

Carlow

17

17

Cavan

24

23

Clare

14

13

Cork

81

72

Donegal

51

45

Dublin

308

277

Galway

39

36

Kerry

22

20

Kildare

32

31

Kilkenny

8

7

Laois

12

10

Leitrim

3

2

Limerick

22

21

Longford

3

1

Louth

41

39

Mayo

13

12

Meath

42

37

Monaghan

29

25

Offaly

11

9

Roscommon

15

14

Sligo

12

11

Tipperary

22

18

Waterford

11

11

Westmeath

17

14

Wexford

17

15

Wicklow

43

40