Doubts surface over €300m SME loan scheme

The Government has said it will provide further details of its €300m Brexit loan scheme for SMEs in the coming weeks amid mounting uncertainty among industry groups.

The scheme, largely aimed at helping with exporting firms’ short-term working capital needs, is expected to become operational in March. However, as the main Brexit-proofing measure for SMEs in the budget, it has already been heavily criticised.

“It is unfortunate that the only role in assisting with this is on the lending side. It is an issue when the only solution is landing on company balance sheets,” said Isme chief Neil McDonnell.