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COVID-19 Business Supports (1)

Galway Chamber are monitoring the unfolding situation around COVID-19. Updates from Government will be posted here.

Businesses and public in Galway City asked to consider accessibility issues associated with social distancing measures.

FINANCIAL SUPPORT

COVID-19 ONLINE RETAIL SCHEME

The Department of Business, Enterprise and Innovation (DBEI) has proposed this Scheme in response to the Covid-19 crisis and the urgent need for retail companies to achieve a step change in online capability.

This is a Competitive Fund which will be administered by Enterprise Ireland on behalf of DBEI with a total fund size of €5.5m.

Applications for funding will be invited through a public Call for submission of projects.

  • Call Open date: Monday 31st August 2020
  • Call Close date: Monday 28th September 2020 at 3pm

Click Here for More Information.

SCBI LOANS

The SBCI Covid-19  Working Capital Scheme is offered in partnership with the Department of Business Enterprise and Innovation, the Department of Agriculture Food and the Marine and is supported by the InnovFin SME Guarantee Facility, with the financial backing of the European Union under Horizon 2020 Financial Instruments.

The loans will be available through AIB, Bank of Ireland and Ulster Bank. Approval of loans are subject to the banks own credit policies and procedures. It should be noted that businesses cannot complete a loan application until they have received their eligibility letter from the SBCI.

Click Here for More Information.

MICRO FINANCE LOANS

The COVID-19 Business Loan from Microfinance Ireland is a government initiative to support small businesses. If your business is impacted or may be impacted by COVID-19 resulting in a reduction of 15% or more in actual or projected turnover or profit, AND you are having difficulty in accessing  finance from commercial lending providers, the MFI COVID-19 Business Loan may be able to help your business. Loans are from €5k – €50k, and include an option for a moratorium on interest and repayments for the first six months.

Click Here for More Information.

OTHER SUPPORTS TO CONSIDER

Commercial Rates: It has been announced by Government that Councils will be deferring rates payments for three months.

Enterprise Ireland€200m Package for Enterprise Supports including a Rescue and Restructuring Scheme is available through Enterprise Ireland.

DBEI. The Department of Business, Enterprise and Innovation have set up a Business Support Call Centre to give you more information on supports available: 01 631 2002 or email infobusinesssupport@dbei.gov.ie

Revenue. Revenue has announced measures for SMEs experiencing cashflow difficulties.

Insurance. Review your insurance policy to find out if your policy includes cover for an interruption in your business, or a temporary business closure, caused by COVID-19.

HR & EMPLOYEE SUPPORT

INTREO/ SOCIAL WELFARE

The Covid-19 Pandemic Unemployment Payment will increase to €350 per week from Friday March 27th. The information and 1-page application form can be downloaded here and circulated to employees. Customers can now apply online for the COVID-19 Pandemic Unemployment Payment.

This payment will also apply to the self-employed affected by the virus.

To apply online for this payment the claimant’s e-mail address is required in order to set up a basic MyGovID account. MyWelfare.ie

Due to the current situation employees with dependants who are accessing the Covid 19 Emergency Payment are also advised to make a Job Seeker application at this time. Download form here.

ILLNESS BENEFIT

The Government has announced that the regulations for Illness Benefit and Supplementary Welfare Allowance will be changed to help prevent the transmission of Covid-19. The personal rate of Illness Benefit will increase further from €305 to €350 per week, and you will not have to wait 6 days before you can apply for Illness Benefit. How to Apply.

BUSINESS SUPPORTS

CITIZEN’S INFORMATION BRIEFINGS