Government extends two funds to recent flooding victims

The agreement will extend previous schemes set up for small businesses, sports clubs, community, and voluntary organisations unable to secure flood insurance and affected by recent flooding in counties Cork, Waterford, Limerick, Kilkenny, and Louth to those affected by weather events in Wexford and any other areas affected by flooding from October 24 to November 5. Picture: Guileen Coast Guard

The Government has agreed to extend two funds to victims of recent flooding and weather events.

The Cabinet held an incorporeal meeting on Thursday to discuss a memo brought by Enterprise Minister Simon Coveney. 

The agreement will extend previous schemes set up for small businesses, sports clubs, community, and voluntary organisations unable to secure flood insurance and affected by recent flooding in counties Cork, Waterford, Limerick, Kilkenny, and Louth to those affected by weather events in Wexford and any other areas affected by flooding from October 24 to November 5.

The funding for those affected by recent storms comes under two different schemes, both of which have two stages. The standard Emergency Business Flooding Scheme provides a contribution of up to €5,000 in the first instance, depending on the scale of damage incurred, with payments processed "as fast as possible".

If a premises has incurred significant damages above €5,000, businesses can then apply for additional financial support, following an assessment by the Irish Red Cross. The total level of support available for both stages combined will be capped at €20,000.

Due to the exceptional severity of the flooding in some areas, the Government has agreed to activate an Enhanced Emergency Business Flooding Scheme, that provides higher levels of financial support for businesses that have been severely affected in certain locations. 

This will also have two stages. Firstly, an initial application can lead to a quick payment which will be capped at an increased upper limit of €10,000. This payment will be subject to assessment post-payment and businesses will be required to refund any overpayment.

A small number of businesses will be able to apply for up to €100,000 in funding. Businesses can also avail of low-cost loans from Microfinance Ireland, the Department of Enterprise said.

In a statement, Mr Coveney said: “Due to persistent weather events in recent weeks, I have decided to extend the Emergency Business Flooding Scheme launched by me on the 24th of October to those affected by recent weather events including those that may be affected in the coming days. I am also extending the enhanced version of the scheme that should be of assistance to businesses that suffered exceptional damage."

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