Low cost loans available for Carlow businesses impacted by Covid-19 pandemic
The new Covid-19 Credit Guarantee Scheme (CGS) will make low cost loans available to businesses across Carlow impacted by the coronavirus pandemic, a Fine Gael TD says.
Carlow-Kilkenny TD John Paul Phelan says the €2 billion scheme will be the "largest" credit guarantee scheme for businesses in the history of the State.
“It will ensure that SMEs, primary producers and small mid-caps in Carlow and Kilkenny can access liquidity to keep their businesses operating, as our economy continues to reopen and more and more people get back to work. It will be available for a wide range of products including overdrafts, term loans and working capital," he says.
Deputy Phelan says the legislation is expected to go through the Oireachtas next week, allowing for its swift enactment. “The changes being made to this scheme will bring our offering into line with similar schemes across Europe,” he adds.