The Minister said £20million will be available for Northern Ireland company directors through the Limited Company Directors Support Scheme (LCDSS).
The scheme will open for applications at 6 pm on Thursday 21 January 2021.
The Minister said, “Many company directors who have been adversely affected by Covid have found themselves in financial difficulty.
“I am pleased that we are able to help address the gap in national support for this group by introducing a local support scheme.”
A £1,000 grant will be paid to eligible limited company directors.
At scheme closure, any underspend will be distributed equally amongst approved applicants in the form of a top-up grant.
This will be up to a maximum of £3,500.
The scheme will be delivered by Invest Northern Ireland on behalf of the Department for the Economy.
More information and eligibility criteria for the scheme are available here.