Heather Humphreys (Cavan-Monaghan, Fine Gael) | Oireachtas source

My Department has had extensive engagement with businesses to understand what they need to help them adapt to the challenges posed by Brexit, and to provide support for diversification, development and innovation.

My Department is putting in place a package of measures that will allow us to respond to the needs of businesses including a Brexit loan scheme to provide affordable financing to Irish firms impacted by Brexit - the scheme aims to make up to €300 million available to businesses with less than 500 employees at a proposed interest rate of approximately 4%; and developing proposals for a longer-term loan scheme together with a new business advisory hub service which would focus on business development to allow enterprises to position themselves for a post-Brexit environment. In addition, the EU Commission has approved a rescue and restructuring scheme and the scheme can be drawn on in exceptional circumstances for a company severely affected by Brexit. The Action Plan for Jobs will continue to act as an effective lever for driving reforms that enhance the competitiveness of Irish firms, increase jobs and grow the resilience of our economy in the context of Brexit.

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