The fund will be capped at €20,000 in aid per business
Small businesses affected by Storm Desmond will be able to apply for up to €20,000 in Government funding.
Uninsured businesses with up to 20 employees can apply for up to €5000 in the next ten days, with further money available after Christmas.
Minister for Defence Simon Coveney says the Red Cross will be able to start accepting applications tomorrow evening, with initial payments being processed before Christmas.
“I hope this scheme will go some way towards alleviating the hardship suffered by small businesses adversely affected by flooding throughout the country.
"I have seen at first hand the effects of this flooding and the costs that businesses must incur in order to get back up and trading.”
The fund is intended as "a humanitarian support contribution towards the costs of returning business premises to their pre-flood condition", a statement from the Department of Defence has said.
The money will cover the replacement of flooring, fixtures and fittings and damaged stock. However it will not contribute to a loss of earnings or a loss of business good-will.
To qualify a business must have no more than 20 employees, have been flooded between December 4 and December 17 (which must be verified by the local authority) and must have been trading at the time of the flood.