Flood-hit firms to receive €5m aid within days

Small businesses hit by flooding will start receiving payments within the next 10 days under a €5m government scheme.

Announcing the details, Defence Minister Simon Coveney said the first phase of the scheme will be “based on trust on self-declaration” so funding can be given out quickly.

The second phase will provide funding for businesses that have incurred greater losses and involve compensation of up to €20,000. However this will be a more lengthy and stringent process and will take several months for claims to be processed.