Business Minister encouraging companies to apply for Brexit Loan Scheme

Business Minister encouraging companies to apply for Brexit Loan Scheme

The Business Minister is encouraging firms to ensure they have enough cashflow for Brexit.

Heather Humphreys is encouraging them to apply for the Government's Brexit Loan Scheme.

Minister Heather Humphreys says cashflow problems could arise for businesses due to Brexit for a variety of reasons.

These include currency fluctuations, customs, potential delays and tariffs.

She said businesses need to continue their preparations for Britain's exit from the EU, including making immediate plans for additional working capital headroom as a precautionary measure.

She added that hundreds of companies - from online hardware businesses to IT companies - have taken the first step of making sure they are eligible for the Government's €300m Brexit Loan Scheme.

Ms Humphreys said even if firms are unsure if they will draw down a loan, she is strongly encouraging them to go through the application process so they have one in place in case it is needed down the line.

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