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Small firms shun Govt’s €2bn Covid guarantee scheme

Centrepiece business support is lending just €9.2m a week

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Lockdowns have closed businesses like those on South Anne Street in Dublin. Photo: Gareth Chaney/Collins

Lockdowns have closed businesses like those on South Anne Street in Dublin. Photo: Gareth Chaney/Collins

Lockdowns have closed businesses like those on South Anne Street in Dublin. Photo: Gareth Chaney/Collins

The €2bn Covid-19 Credit Guarantee Scheme (CGS) launched as a central pillar of the Government’s July Stimulus has distributed less than 10pc of its available funding halfway through its life-span, according to statistics compiled by the Department of Enterprise.

The programme, which is due to expire on June 30, offers an 80pc State guarantee to banks on loans to SMEs and was part of the Government’s Covid response programme to support jobs and businesses.


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