A new nationwide €60 million COVID Business Aid Scheme (CBAS) is set to provide a welcome boost for struggling businesses in Donegal.
The funding for CBAS was secured by the Tánaiste at cabinet this week and Donegal County Council will be responsible for administering the scheme.
Joe McHugh, Fine Gael TD for Donegal, said: “The scheme will support rateable businesses that were not eligible for the Covid Restrictions Support Scheme (CRSS) payment nor the recently announced Fáilte Ireland scheme, ‘Survive to Thrive’.
“It will be a €60m fund offering a payment of €8,000 for eligible businesses, in two instalments of €4,000 for January-March and April-June.
“Wholesalers, suppliers, caterers and events companies down 75% or more in turnover – and which have a rateable premises – will benefit.
“Not everyone will be eligible, but it will provide a boost to 7,500 small and medium sized businesses who were not eligible for CRSS or the Fáilte Ireland scheme.”
Business should be able to apply by the end of February through Donegal County Council. The Scheme will be back-dated to the start of this year, to ensure businesses are able to get help in covering the fixed costs they have incurred since then.
Deputy McHugh continued, “This new scheme is in addition to the wide range of existing Government schemes such as wage subsidies, the PUP, the CRSS and commercial rates waivers.
“We hoped that businesses would no longer need such levels of support well into 2021. Unfortunately, the pandemic continues to have devastating consequences and the Government remains committed to helping businesses for as long as they need it.”