Home > Financial > Credit Guarantee Scheme has supported Irish SMEs with over 84m in lending says Minister

Credit Guarantee Scheme has supported Irish SMEs with over 84m in lending says Minister

Written by Robert McHugh, on 12th Apr 2018. Posted in Financial

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The Minister of State at the Department of Business, Enterprise and Innovation, Pat Breen, has today launched the latest Quarterly Report (fourth quarter of 2017) from the Strategic Banking Corporation of Ireland (SBCI) on its operation, on behalf of the State, of the Credit Guarantee Scheme (CGS) for SMEs.
  
The latest Report shows that in the fourth quarter of 2017, CGS Facilities were sanctioned for 28 Irish SMEs, for a total of over €4.9 million in funding that the Government claims will create or maintain 125 Irish jobs.

Since the Credit Guarantee Scheme became operational in October 2012, 530 facilities totaling €84.4 million have been sanctioned. The Government claims these sanctions are supporting or maintaining 3,290 jobs.
  
Commenting on the publication of the latest Quarterly Report today, Minister Breen said, "I am pleased to see that the Credit Guarantee Scheme continues to support Irish SMEs in every region, and across 16 sectors of the economy. Over €84m in sanctioned facilities are now supporting 3,290 jobs.  I would encourage SME operators seeking finance to examine whether the Credit Guarantee Scheme is the right option for them to grow their business."

Source: www.businessworld.ie  

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