Oireachtas Joint and Select Committees

Tuesday, 30 June 2020

Special Committee on Covid-19 Response

Impact of Covid-19: SME Recovery

Mr. John A. Moran:

The measure being used in other countries is to disburse loan amounts at very low interest rates quickly based on their trading, for example. They might get three months of their revenue or twice their salary bill, for example, and they would be able to apply for it quickly. They would owe it to the Government unless they can prove that the Covid-19 losses they incurred come to a certain amount, in which case the amount would be written off.