Almost 40 flood-hit businesses apply for emergency funding in wake of Storm Babet

Almost 40 businesses have applied for emergency flood relief funding since Storm Babet battered the south of the country last month.

Some €50,000 has already been paid to five of the worst-hit businesses in initial tranches of €10,000 each, according to data provided by the Irish Red Cross (IRC).

The Government requested that the IRC administer the Emergency Business Flood Relief Scheme in the wake of Storm Babet, which caused flooding in towns across counties Cork and Waterford.

A total of 39 applications have been made by businesses as of Wednesday afternoon.

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[ In pictures: Storm Babet brings heavy rain and flooding to Ireland ]

The IRC said this application rate is what “would be expected at this stage as this is in line with previous flood scheme experiences in Ireland in the past”.

There are different levels of funding on offer to small businesses under two schemes depending on the damage sustained.

Businesses applying to Scheme A can get a once-off contribution of €5,000.

For damage that exceeds this sum, there is an initial €5,000 contribution after verification by the local authority and possible payments of up to €20,000 following a professional assessment by an assessor appointed by the IRC.

Sixteen businesses have applied for Scheme A funding.

Scheme B offers either a single once-off contribution of €10,000.

For damage that exceeds this sum, there is an initial €10,000 contribution after verification and possible payments up to a maximum of €100,000 following a professional assessment.

Twenty businesses are seeking Scheme B funding and such applications have been received from Cork, Kilkenny, Waterford and Wicklow.

The IRC is awaiting confirmation of which funding stream a further three businesses are applying to.

[ Q&A: What State support is available if your home or business is flooded due to storms? ]

The scheme is open to small businesses of up to 20 employees and only those that could not secure flood insurance through no fault of their own are eligible.

Five of the applications that have been made so far are to the more generous Scheme B with €10,000 already paid to each of them.

Their files have been sent to an assessor who has set appointments for later this week before a decision on how much extra funding will be allocated to them.

The damage to the five businesses estimated by the applicants in their claims range from €36,500 up to €112,000.

The IRC has received 16 incomplete applications, it has informed the businesses of this, and is awaiting the full information.

Midleton Chamber of Commerce is helping with the process in the flood-hit town, seeking to answer queries from businesses there including questions relating to insurance and other technical issues that can be sent to the IRC.

The IRC said this involvement by the chamber is “very positive”.

The scheme currently only relates to flood damage caused by Storm Babet and it does not cover the weather event that caused flooding in Louth and Wexford this week.

Senior Government figures have signalled that a similar scheme will be made available to businesses in the counties that were flooded this week but the decision requires Cabinet approval.

The Coalition could give the green light for the expansion of supports as early as Thursday.

With a number of ministers abroad on a trade mission to South Korea, an incorporeal Cabinet meeting is likely to take place to sign off on the decision.