Access to Finance
Due to the challenges posed by Brexit and global supply chains it is essential that businesses have access to funding to address cash flow and working capital issues that might arise over the coming months.
Listed below are several government schemes available to eligible Irish businesses to mitigate the impact of Brexit and other interuptions.
- The Brexit Loan Scheme, will provide affordable financing to businesses that are either currently impacted by Brexit or will be in the future. The Scheme, which will be delivered by the Strategic Banking Corporation of Ireland (SBCI) through commercial lenders will make €300 million available to eligible businesses with up to 499 employees at an interest rate of 4% or less.
- Start to Plan Voucher Scheme (through Inter TradeIreland) offers SMEs advice and guidance to help navigate their way through Brexit. The vouchers offer 100% financial supports of up to £2,000/€2, 250 (inclusive of VAT), towards professional advice in relation to Brexit matters. This support can help businesses get advice on specific issues, such as the movement of labour, goods, services, customs, logistics and financial issues such as VAT and currency management.
- The Trading Online Voucher Scheme is designed to assist small businesses. It offers financial assistance of up to €2,500 along with training and advice to help your business trade online. Participating in this scheme can make the process of trading online much easier for you.
- The Technical Assistance for Micro-Exporters (TAME) grant supports LEO clients to explore and develop new export market opportunities. This scheme is a matched funding opportunity with up to €2,500 available to eligible businesses. Under the scheme costs incurred when investigating, researching and accessing export markets can be part funded.
- The SME Credit Guarantee Scheme 2017 aims to assist viable SMEs, which under normal lending criteria are unable to borrow from their bank, in accessing credit. The scheme operates by providing an 80% guarantee (previously 75%) to participating finance providers (currently AIB, Bank of Ireland and Ulster Bank) on qualifying facilities to SMEs.
- Credit Review Office provides a simple and effective review process for small and medium-sized enterprises (SMEs), sole traders and farm enterprises refused credit from Allied Irish Bank, Bank of Ireland, PTSB and Ulster Bank.
- Local Enterprise Offices offer several other financial supports see for more information.
- Microfinance Ireland offers loan funding up to €25,000 to both new and existing small businesses in the Republic of Ireland.
- This simple guide sets out the types of equity and debt financing supports and resources available to business at all stages of the business cycle - from those just starting out to those wishing to scale up.
- The Currency Risk Management guide answers many of the questions that Irish SMEs may have when assessing and managing their exposure to foreign currency risk.
For information on supports available to SMEs in Ireland please see the Supporting SME tool at supportingsmes.ie which sets out the full range of Government financial and other supports.