Demand for loans under the Government’s €2 billion Covid-19 credit guarantee scheme has been muted since it was launched almost five weeks ago, with businesses having only applied for €100 million of fresh credit, The Sunday Times reports.
The newspaper cited Banking and Payments Federation Ireland figures as saying about 1,500 companies have applied for just over €100 million of loans. The scheme, a centrepiece of the Government’s €7.5 billion July stimulus plan, is set to run out at the end of this year. The low uptake suggests businesses are reluctant to take on fresh debt in uncertain times.
Irish medicinal cannabis firm wins German backing
The Sunday Times also reports that German cannabis company Synbiotic has bought a 25 per cent stake in Irish medicinal…