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Covid -19 Credit Guarantee Scheme (SME)

Description

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  • Loans from €10,000 to a maximum of €1,000,000 per borrower, subject to Loan Amount Criteria, see below for further details.
  • Terms of between 3 months up to 5.5 years.
  • Loan Amounts =<€250,000 will be unsecured (unless it is a requirement of the product feature e.g. asset finance, invoice discount facilities).
  • Amounts >€250,000 may be secured however, a personal guarantee may only be sought in circumstances where it is required to capture supporting security, or where it is an uncollateralised personal guarantee and is limited to a maximum of 20% of the initial finance agreement amount.
  • Loans will be available up to end of December 2020.
  • Up to 12 months interest and / or capital moratoria are possible under the Scheme, these remain at the discretion of the participating finance provider.
  • The Scheme will permit the refinance and rollover of debt incurred as a result of Covid-19: e.g. Covid-19 related expenses that were initially funded through short term/temporary facilities such as overdrafts.

The scheme is currently available through the following participating lenders:

Additional lenders will be added in the coming weeks.

Listing Details

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Interest Rate: Up to 12 months interest and / or capital moratoria are possible under the Scheme, these remain at the discretion of the participating finance provider. Rates depend on amount borrowed, size of the company and term.
Value: ?10,000 to a maximum of ?1,000,000
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Term: 3 months to 5 years
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