Support fund announced for flood-hit businesses in Bantry and Fermoy

The scheme will provide up to €20,000 for businesses and sports clubs in Bantry and Fermoy

Sandbags piled up in Bantry, Co Cork which flooded after Storm Barra hit Ireland. Picture: PA

A humanitarian fund for businesses and sports clubs affected by flooding in Cork last week will open today.

The scheme, to be announced by Tánaiste Leo Varadkar, will provide up to €20,000 for businesses and sports clubs in Bantry and Fermoy under the scheme to be administered by the Irish Red Cross (IRC).

The announcement is set to follow today’s Cabinet meeting.

Businesses and organisations which are unable to access insurance will receive €5,000 immediately and can apply for the additional €15,000 to help offset the cost of repairs.

This scheme is a temporary humanitarian support contribution towards the costs of returning business premises to their pre-flood condition including the replacement of flooring, fixtures, fittings, and damaged stock. The scheme will not provide a contribution to the loss of earnings or loss of business goodwill.

The scheme is targeted at small businesses (up to 20 employees) and will have two stages. The first stage will commence immediately and will provide a contribution of up to €5,000, depending on the scale of damage incurred.

In the event that businesses have incurred significant damages above €5,000, the second stage will provide a means to seek further support. However, this will be a more lengthy process requiring a more detailed assessment.

The level of support available for both stages combined will be capped at €20,000 per property.

About 23 premises were flooded in Bantry last week as Storm Barra made landfall just before high tide on Tuesday morning and gale force winds gusted to more than 130kph.