Oireachtas Joint and Select Committees

Tuesday, 20 April 2021

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Loan Guarantee Schemes Agreements (Strategic Banking Corporation of Ireland) Bill 2021: Waiver of Pre-Legislative Scrutiny

Photo of Matt ShanahanMatt Shanahan (Waterford, Independent) | Oireachtas source

I thank our guests. I have a couple questions for Mr. Hughes. He said loan terms under the Brexit impact loan scheme are a minimum of three years extending to six years and that loans can be refinanced. What happens when borrowers reach the end of the six-year period? Do they have any guarantees with respect to the rate of interest at which they might refinance? Is it a market rate or will it be a supported rate?

How will companies that have availed of this year's warehousing of debt be treated under the extensions to the Covid-19 support and Brexit impact schemes in terms of accessing additional funding? Are companies that are already approved under the Covid restrictions support scheme, CRSS, and the Covid-19 business aid scheme, CBAS, treated differently or is this looked at as separate financing under these applications?

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