€2bn loan scheme to help small businesses

 

Businesses, which are struggling because of the Covid-19 pandemic, may be able to apply for loans to help them stay afloat.

The Government's given the go ahead for a two billion euro financial support plan, which if passed by the Oireachtas, would give thousands of SMEs access to low cost loans.

80 percent will be underwritten by the State, making it the largest credit guarantee scheme in the history of the country.

Tanaiste Leo Varadkar explains how it'll work: