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COVID-19 Credit Guarantee Scheme
From Department of Enterprise, Trade and Employment
Published on
Last updated on
The COVID-19 Credit Guarantee Scheme facilitates up to €2 billion in lending to eligible businesses that have been negatively impacted as a result of the outbreak of COVID-19 in Ireland. It offers a partial Government guarantee (80%) to participating finance providers against losses on qualifying finance agreements to eligible SMEs, small Mid-Caps and primary producers.
It is designed to incentivise participating finance providers to continue to play their role in supporting the availability of additional liquidity to Irish businesses.
This Scheme is available to eligible SME and small Mid-Cap businesses, including primary producers (businesses engaged in farming and fishing), established in Ireland.
Your business must also have experienced an adverse impact of minimum 15% in actual or projected turnover or profit due to the impact of COVID-19
Loans under the Scheme range from €10,000 to €1 million, for terms of up to five-and-a-half years. Financing will be offered through a range of products, including term loans, working capital loans and overdrafts. Loans of up to €250,000 under the Scheme are available unsecured (except where this is a requirement of the product feature, as in the case of asset finance, invoice discount facilities, etc).
The COVID-19 Credit Guarantee Scheme is accessible by direct application to participating finance providers.
The Scheme is available through a range of financial providers which includes participating retail banks, participating credit unions and other participating non-bank lenders.
A full list of a participating finance providers is available through the SBCI website.
