COVID-19 Business Supports Hub

Credit Guarantee Scheme (CGS)

To help SMEs impacted by COVID-19 related issues, the Government has repurposed the Credit Guarantee Scheme (CGS) to provide counter guarantees to banks, mitigating credit risk and the need for collateral.

The CGS can be used by businesses to obtain loans to support changes made to their business in response to COVID-19.

This scheme supports loans from €10,000 up to €1m for periods up to 7 years. SMEs may be eligible if they:

  • Are involved in a commercial activity;
  • Are a sole trader, partnership, franchise, co-operative or limited company;
  • In the lender's opinion have a viable business proposal; and
  • Are in a position to repay the facility.

The scheme is operated on behalf of the Government by the Strategic Banking Corporation of Ireland (SBCI). Applications are available directly and can be made to participating lenders who are ultimately responsible for the credit decisions:

Further details are available on the SBCI website.


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