BREXIT FUNDING AND SUPPORT OPTIONS!

Some of the challenges (and costs) associated with BREXIT have really only become apparent POST January 2021, as businesses have been trading with the UK in the first quarter of 2021. There are still a number of BREXIT related grants and loan schemes to help Irish businesses with the challenges both NOW and over the next 12 months, so see our summary below.

BREXIT BUSINESS LOAN

SME businesses which are dealing with the impacts, whether suffering a drop in turnover
of 15% or more, or just unable to secure additional finance from their bank or lenders – then the
Business Loan via Microfinance Ireland may be the solution!
The loan is a loan finance scheme through Microfinance Ireland (MFI), which is
available to support small businesses through the initial period – with the aim to protect
businesses and jobs in Ireland.

Eligible businesses for the BREXIT Business loan include the following:

1. Any business including Sole Traders, Partnerships and Limited Companies with less than 10
   employees and annual turnover of up to €2m
2. Where the turnover of the business has already been, or potentially could be, impacted by
   BREXIT related issues by a minimum of 15%
3. Where the business has a short-term cashflow requirement as a result of BREXIT
4. Where the business is unable to secure finance from banks and commercial lending providers

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