Brendan Smith: Low-Cost COVID-19 Loan Scheme launched to help Businesses

Fianna Fáil TD for Cavan and Monaghan, Brendan Smith has welcomed a further Government low-cost loan scheme to help SMEs access low-cost finance.

The Cavan and Monaghan TD commented, “This COVID-19 state-backed loan scheme is aimed at helping businesses who are still attempting to pick themselves back up following the impact of the pandemic.

“This scheme will allow SMEs to access low-cost finance on loans of between €25,000 and up to €1,500,000, with terms of one to six years and unsecured up to €500,000.

“To this point, State-backed loan schemes have aided more than 10,000 SMEs to access low-cost credit.”

Deputy Brendan Smith added: “It’s very welcome that this scheme will also be open to farmers and fishers and I urge any eligible Cavan and Monaghan businesses to make use of the scheme where needed.”