COVID-19 Business Supports Hub

Enterprise Ireland Sustaining Enterprise Fund

A €180m fund has been introduced to help sustain companies that have been impacted by a 15% or greater reduction in turnover/profit, and have significant costs as a result of the COVID-19 outbreak.

The fund is available to eligible companies that:

  • Employ 10 or more full-time employees;
  • Are operating in the manufacturing or internationally trade services sectors; and
  • Have applied for funding from a financial institution, including through the SBCI COVID-19 Working Capital Loan/Future Growth Loan Schemes.

Businesses qualifying under the scheme will be offered a repayable advance of up to €800,000 under the following terms:

  • 3-year grace period;
  • Annual administration fee of 4%;
  • Repayment in full by the end of year 5, on successful achievement of the project objective.

This fund will be used to support the implementation of a Business Sustainment Plan which must be provided by the company outlining the eventual stabilisation of the business and a return to viability. The Enterprise Ireland Business Financial Planning Grant will assist companies to develop this business plan.

Further details are available on the Enterprise Ireland website.

 

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