Council encourage businesses to apply for COVID19 loan scheme

 

Donegal County Council is encouraging any business that has been affected by COVID-19 to check if they’re eligible for the SCBI “COVID-19 Working Capital Loan Scheme”.
The scheme offers loans of up to €1.5m at reduced rates, with up to €500,000 unsecured to mitigate the impact of COVID19.
The SBCI Covid-19 Working Capital Scheme is offered in partnership with the Department of Business Enterprise and Innovation, the Department of Agriculture Food and the Marine and is supported by the InnovFin SME Guarantee Facility, with the financial backing of the European Union under Horizon 2020 Financial Instruments.
The loans will be available through AIB, Bank of Ireland and Ulster Bank. Approval of loans are subject to the banks own credit policies and procedures.
It should be noted that businesses cannot complete a loan application until they have received their eligibility letter from the SBCI.
Viable micro, small and medium sized enterprises and Small MidCap enterprises that meet the eligibility criteria can apply.
Applications for loan eligibility can be made from 23 March 2020 until March 2021 and can be made through the local Enterprise Office Donegal.