Local Enterprise Office – Press Release 09.04.2020: Kildare County Council – Local Enterprise Office Welcomes Expansion of Business Supports

Minister for Business, Enterprise and Innovation, Heather Humphreys TD, has announced a major expansion of supports for businesses impacted by COVID-19, including an expansion of the Trading Online Voucher Scheme and a reduction in the interest rate for Microfinance Ireland loans.

Minister Humphreys announced the expansion of the €2,500 Trading Online Voucher Scheme through Local Enterprise Offices, for businesses employing up to 10 people.

In agreement with the Minister for Communications, Climate Action and the Environment, Richard Bruton TD, an additional €3.3m is being provided to the scheme bringing the total available nationally to €5.6m. Local businesses in County Kildare that previously benefitted from the Trading Online Voucher Scheme can, from today, apply for a second voucher of up to €2,500, with co-funding of 10%.The voucher can be used to help add payment or booking systems to websites, along with subscriptions to low-cost online retailing platform solutions.

A substantial reduction in interest rates on Microfinance Ireland loans was also announced, bringing the rate down to 4.5%, where applications are made through Local Enterprise Office Kildare. COVID-19 Business Loans of up to €50,000 are available from Microfinance Ireland with no repayments and no interest charged in the first six months, for eligible businesses that employ less than 10 people.

Minister Humphreys said: “This package is a significant step-up in the supports available for all businesses in all sectors at this very difficult time. The measures have been developed to meet the varying needs of Irish enterprise and they are very specifically targeted by size, sector and need. The impact of COVID-19 presents unprecedented difficulties for businesses who have already spent the past three years preparing for the possible consequences of Brexit, but those preparations will stand to us. I want to reiterate to firms that we will continue to use all available tools at our disposal to support them and keep money flowing through the economy in the difficult months ahead.”