There’s no doubt the arrival of COVID-19 in Ireland was as unexpected as it was sharp. Businesses across the country have been challenged like never before. In addition to the devastation Covid-19 has inflicted on cash-flow and day-to-day operations, it has also introduced significant challenges too. This includes how business owners can plan for and protect the health of its customers.
What Irish SMEs should know about the Credit Guarantee Scheme for
14th July 2020
14th July 2020
Business, Covid-19
credit guarantee scheme, Irish sme loans, sme lending ireland
The purpose of the SME Credit Guarantee Scheme is to encourage additional lending to SMEs by offering a partial Government guarantee (currently 80%) to banks against losses on qualifying loans to eligible SMEs. The Credit Guarantee Scheme does not substitute for conventional lending that would otherwise have taken place.
The business planning process has changed significantly as a result of covid-19 and the long-term impact is still unknown. However, the emerging blueprint points to a costlier business model even before consumer behaviour is factored in.