Dáil Éireann Debate, Thursday - 25 January 2018
117. Deputy Niall Collins asked the Minister for Business, Enterprise and Innovation when the €300 million Brexit loan scheme fund announced in budget 2018 for SME businesses will open for applications; the length of time the fund will remain open for applications; the criteria for applying; and if she will make a statement on the matter. [3858/18]
Amharc ar fhreagraThe Brexit Loan Scheme announced during Budget 2018 will provide affordable working capital financing to eligible Irish businesses that are either currently impacted by Brexit, or which will be in the future. The Scheme will be delivered by the Strategic Banking Corporation of Ireland (SBCI) through commercial lenders to get much needed working capital into Irish businesses.
The Scheme will be open to businesses of up to 499 employees, which can also demonstrate that they are significantly exposed to the impact (or potential impact) of Brexit. They must be a viable business, doing business in Ireland, and they must have a business development strategy. The scheme will be open both to State Agency clients and those businesses that do not have any relationship with State Agencies.
The Scheme is expected to open for applications at the end of March 2018, and will run until the 31st of March 2020.
