Covid-19 Credit Guarantee Scheme now available with Linked Finance.

Posted by on 5th January 2021



Linked Finance is now offering Irish SMEs the opportunity to access discounted finance for their business under the Government’s Covid-19 Credit Guarantee Scheme.

We’re delighted to be playing our part in delivering much needed low-cost funding to SMEs, which benefit from support from the Department of Enterprise, Trade and Employment.

What is the Covid-19 Credit Guarantee Scheme?

Announced as part of the Government’s “July Stimulus” package for businesses that have been negatively impacted as a result of the outbreak of Covid-19 in Ireland, the Covid-19 Credit Guarantee Scheme will facilitate up to €2 billion in lending to eligible businesses. 

As one of Ireland’s largest lenders to Irish businesses, we have been selected to issue loans to businesses that have been affected by Covid-19 and are eligible under the conditions stated by the government.

Why choose Linked Finance as your lending provider?

Linked Finance works according to three simple principles that reflects doing business in the real world and sets us apart from the slow, bureaucratic pillar banks.

We offer loans from 12 months to 5 years between €10,000 and €250,000 at a significantly discounted rate from our standard loans. All loans are unsecured with no personal guarantees required for loans under €250,000. 

  • Simple application process
  • Fast credit decisions in under 24 hours from getting your documents
  • Support every step of the way through the process from a dedicated contact

What kinds of businesses can apply for the Covid-19 Credit Guarantee Scheme with Linked Finance?

Linked Finance’s Covid-19 Credit Guarantee Scheme loans are available to eligible Micro Enterprises and SMEs, established and operating in Ireland. 

To apply for a loan with Linked Finance, your business must have been trading for at least 2 years and have an annual turnover of €100,000. To qualify for a discounted loan under the Credit Guarantee Scheme, your business must also have experienced an adverse impact of minimum of 15% in actual or projected turnover or profit due to the impact of Covid-19. It must also have been financially viable on 31 December 2019.

Only Limited Companies are eligible to apply for the Covid-19 Credit Guarantee Scheme loan from Linked Finance.

Get all eligibility details on the Covid-19 Credit Guarantee Scheme on our dedicated hub page, including all details of rates and applicable charges. 

What can the loans be used for? 

The loans can be used to provide much needed working capital or liquidity for businesses that have been negatively affected by Covid-19. If you have big ideas to invest in your business or buy new equipment, then that’s covered too. 

The purpose of the scheme is to allow businesses to move forward and survive during these challenging times. So if you need working capital or purchase new stock or equipment, invest in new business ventures or clear day-to-day expenses then this loan can help you. 

Are any sectors not eligible for the Scheme?

Businesses engaged in the following activities are not eligible for the Scheme:

  • Extraction of crude petroleum
  • Extraction of natural gas
  • Support activities for petroleum and natural gas activities
  • Manufacture of tobacco products
  • Manufacture of weapons and ammunition
  • Manufacture of military fighting vehicles
  • Construction of buildings
  • Construction of residential and non-residential buildings
  • Buying and selling of real estate
  • Gambling and betting activities
  • Monetary intermediation

How long will the scheme be available?

The scheme is available on a first-come first serve basis until June 30th 2021

How can businesses apply?

You can apply immediately via our online application form and we will follow up on your application the next business day. 

Alternatively, give us a call for a no obligation discussion and an initial eligibility assessment on 01 906 0300.

A government of Ireland initiative, delivered by Linked Finance

Business Loans but Different

A Better Way to Borrow for Your Business

Linked Finance connects great local businesses who need loans with thousands of individual lenders. This is about using technology to bring business lending back to basics; real people with savings lending to great local businesses at attractive interest rates. Businesses get the funds they need to grow, lenders make a fair return. Everybody wins!

If you need a loan to grow your business, talk to Linked Finance

  • You get a same-day credit decision.
  • You can borrow up to €300K.
  • No early repayment penalties.
  • A friendly, no-hassle approach.
  • Promote your business.
  • Win new customers as part of the process.

 

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