Dáil Éireann Debate, Thursday - 23 November 2023
8. Deputy James O'Connor asked the Minister for Enterprise, Trade and Employment if his Department will review the flood supports administered through the Red Cross for those affected whose insurance excess restricts them from accessing the current scheme; and if he will make a statement on the matter. [51587/23]
View answerUnder the emergency business flooding schemes the Government has made provision to provide up to €100,000 for small businesses, community, voluntary and sporting bodies directly affected by the weather events in Counties Cork, Galway, Waterford, Limerick, Louth, Wexford, and Kilkenny.
These schemes provide urgent assistance to businesses that were unable, through no fault of their own, to get insurance to help with the costs of repairing the damage caused by flooding.
The scheme are intended as an emergency humanitarian assistance contribution only and not as compensation for loss or a replacement for the cover provided by insurance.
For businesses, community, voluntary and sporting bodies the excess on their insurance claims should be a relatively small amount and, depending on their coverage, the cost of the damage incurred as a result of flooding should be covered by their insurance policy.
In addition, financial assistance by way of low-cost loans is immediately available from Microfinance Ireland to businesses with up to 9 employees that cannot get loan financing from other lenders. Loan options include cashflow loans of up to €25,000, which can be used for general business purposes including re stocking and other business costs. Loans for capital expenditure are also available, that could fund the refurbishment of premises, or the replacement of equipment damaged by the floods.
