Bank of Ireland to support customers through Credit Guarantee Scheme

Tuesday 8 September 2020 09:45 CET | News

Bank of Ireland has strongly welcomed the launch of the new Covid-19 Credit Guarantee Scheme, designed to support Irish businesses navigate the ongoing pandemic.

The Bank has created a new online portal to simplify the application process and will start accepting applications from Thursday 10 September 2020. Bank of Ireland is also launching a EUR 400,000 marketing campaign across TV, radio, print and digital platforms to help drive awareness of the scheme nationwide.

The Covid-19 Credit Guarantee Scheme provides further support for viable businesses, facilitating additional financial support to lessen the economic impact of the pandemic. The Government has allocated EUR 2 billion under the scheme, with the size of an individual loan linked to business turnover or wage costs, depending on the applicant. The scheme aims primarily to support SMEs nationwide, with the State guaranteeing 80% of the loan.

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Keywords: Bank of Ireland, COVID-19, Credit Guarantee Scheme, loans, SMEs, banking, Ireland, payments
Categories: Banking & Fintech
Countries: Ireland
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