Bank of Ireland has announced a range of supports available to businesses impacted by the outbreak of coronavirus (Covid-19).
Bank of Ireland today (6 March) said it will be making resources available for firms impacted by the virus and encouraged impacted firms to speak to the bank.
The impact of coronavirus is being felt in many ways across different business sectors. This includes weaker trading as a result of a reduction in business and tourist travel, supply chain interruption due to the knock-on impacts of a slowdown of production in China, and reduced orders from international customers as the global economy starts to deal with the impact of the virus.
“We will be making extra resources available during this period of uncertainty, and I would encourage any business owner with concerns on how to deal with the impact of the coronavirus to contact us”
These impacts are leading to a number of financial needs for business customers, and Bank of Ireland is today announcing a number of supports for business affected by coronavirus.
These include the provision of emergency working capital, payment flexibility on loan facilities, and the provision of trade finance and foreign currency products to support sourcing products from new suppliers internationally.
The Bank will also be making proactive contact with businesses that may be impacted by the virus.
Countering the impact of coronavirus on business
Given the fast-moving nature of the ongoing issue, the Bank will prioritise loan decisions for impacted businesses, and will also review the supports required for all of our customers as the impact of the virus on both our business and personal customers is further understood over the coming weeks.
Customers who are concerned about the impact of coronavirus on their business are encouraged to make contact with their Business Relationship Manager or ring 0818 200 348. Bank of Ireland sectoral experts – in agriculture, manufacturing, hospitality, health, food and beverage and retail convenience – are also available to support customers.
“Bank of Ireland is committed to providing support to businesses across the island of Ireland,” said Gavin Kelly, CEO Retail Ireland.
“We will be making extra resources available during this period of uncertainty, and I would encourage any business owner with concerns on how to deal with the impact of the coronavirus to contact us. We will work with them to identify what supports they need, including options such as emergency working capital and payment flexibility.”
Written by John Kennedy (john.kennedy3@boi.com)
Published: 6 March, 2020
