Over 30 flood-hit businesses apply for emergency funding in wake of Storm Babet

More than 30 businesses in Cork 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 31 applications have been made by businesses in Cork by 5pm on Tuesday.

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 the damage sustained.

Businesses applying to Scheme A can get a once-off contribution of €5,000, or, for damage that exceeds this sum, 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.

Scheme B offers either a single once-off contribution of €10,000, or, for damage that exceeds this sum, an initial €10,000 contribution after verification and possible payments up to a maximum of €100,000 following a professional assessment.

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

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.

These applicants will now be assessed by a panel of assessors 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.

A sixth business is in the process of finalising an application to Scheme B.

The IRC has received 17 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 only relates to flood damage caused by Storm Babet.

A Government decision on providing similar supports to businesses in counties Louth and Wexford, which have been flooded this week, may happen as early as Thursday.

With a number of Ministers abroad on a trade mission to South Korea, there would have to be an incorporeal Cabinet meeting to approve the expansion of supports.