New Covid-19 loan scheme for small businesses to be launched

The Covid-19 Loan Scheme is in response to the required closure of the Covid-19 Credit Guarantee Scheme at the end of June 2022.

The Covid-19 Loan Scheme will be formally launched by Tánaiste Leo Varadkar (pictured), Agriculture Minister Charlie McConalogue, and Finance Minister Paschal Donohoe on Monday. Picture: Gareth Chaney/ Collins Photos

A new Covid-19 loan scheme offering loans of up to €1.5m is to be launched on Monday as the country grapples with the latest coronavirus wave.

The scheme which will be open to small and medium-sized businesses, including farmers, food producers, and those in the fishing industry, will see lines of low-risk, low-cost credit extended for up to six years.