James O'Connor (Cork East, Fianna Fail)
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53. To ask the Minister for Enterprise, Trade and Employment if he will provide the current up-to-date numbers of how much funding has been administered through the Red Cross scheme for flood victims in the east Cork area; and if he will make a statement on the matter. [51588/23]

Simon Coveney (Cork South Central, Fine Gael)
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I propose to take Questions Nos. 53 and 76 together.

On the 24th of October 2023, the Government activated enhanced emergency business flooding humanitarian schemes that provides support of up to €100,000 to business, community, voluntary and sporting bodies. The Schemes now covers areas impacted by recent severe weather events including Counties Cork, Galway Waterford, Limerick, Louth, Wexford, and Kilkenny.

These schemes provide urgent assistance to businesses that were unable, through no fault of their own, to get insurance to help with the costs of repairing the damage caused by flooding.

The Irish Red Cross are administering and making payments under the Schemes on behalf of my Department. The Red Cross has distributed a total of €636,232 to businesses in Cork as of Friday the 17th of November. This funding has been administered to a total of 44 businesses.

The number of applications by businesses in Cork is expected to rise as the closing date for receipt of applications has been extended to Friday the 15th of December 2023.

In addition to the flooding schemes, financial assistance by way of low-cost loans is immediately available from Microfinance Ireland to small businesses that cannot get loan financing from other lenders. Loan options include cashflow loans of up to €25,000, which can be used for general business purposes including re-stocking and other business costs. Loans for capital expenditure are also available which could fund the refurbishment of premises or the replacement of equipment.