€300m loan scheme announced for businesses to tackle Brexit

The government is announcing a new €300 million Brexit Loan Scheme for businesses today.

Firms with fewer than 500 employees will be able to apply for loans of between €25,000 and €1.5 million.

It is to try and help businesses deal with the challenges they are facing from Brexit.

Director of the Small Firms Association, Sven Spollen-Behrens, has welcomed the initiative: "The UK's vote to leave the EU has already posed considerable damages to small businesses in Ireland and significant further difficulties might be coming down the tracks.

"The new scheme is a really important element of the government's response to Brexit and it will allow small firms to borrow working capital or investment at relatively low interest rates."

Digital Desk