A new support scheme in Carlow will make loan funding of €250,000 available for retail businesses in the county.

The Carlow County Retail Incentive Scheme is being organised via a partnership between Microfinance Ireland and the Department of Social Protection.

Microfinance Ireland will offer €250,000 in loan funding to applicants, with another €250,000 available in the form of soft supports such as training, mentoring, business advice and grant supports through Carlow County Council, Local Enterprise Office Carlow and the Department of Social Protection.

New and existing retailers can apply to the scheme through LEO Carlow, where Microfinance Ireland loans are available at a preferential rate.

In Association with

Speaking at the launch of the scheme in Leighlinbridge, Co. Carlow, Michael Johnson, chief executive of Microfinance Ireland, said: “With access to finance identified as the critical issue for small scale retailers, this scheme sets out to support new and existing retailers who find it difficult to raise finance from other sources.

“Successful local enterprises are an absolutely essential part of any economy and local vendors have suffered both from the recession and the mass migration to online retailing. This is a chance for retailers in Carlow to fight back.”

Kieran Comerford, head of enterprise in Carlow County Council, added: “This new scheme brings together the one-stop-shop concept in a real way, working in partnership with Microfinance Ireland and the Department of Social Protection to provide solutions for new, existing and growing retailers and, as far as I know, this is a first for anywhere in the country.”

(From left) Dan McInerney, chief executive, Carlow County Council; Minister Ann Phelan; Cyril Forbes and Michael Johnson, Microfinance Ireland