Home > Financial > Credit Guarantee Scheme supports Irish SMEs with over 88m in lending says Minister

Credit Guarantee Scheme supports Irish SMEs with over 88m in lending says Minister

Written by Robert McHugh, on 18th May 2018. Posted in Financial

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The latest Quarterly Report from the Strategic Banking Corporation of Ireland (SBCI) on its operation, on behalf of the State, of the Credit Guarantee Scheme (CGS) for SMEs, shows that for the first quarter of 2018, CGS Facilities were sanctioned for 30 Irish SMEs, for a total of over €4.4 million in funding that will create or maintain 229 Irish jobs.

Since the Credit Guarantee Scheme became operational in October 2012, the Government claims 560 facilities totaling €88.8 million have been sanctioned. These sanctions are supporting or maintaining 3,519 jobs, according to the report.

Commenting on the publication of the report today, Minister of State at the Department of Business, Enterprise and Innovation, Pat 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 €88m in sanctioned facilities are now supporting 3,519 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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