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Credit Guarantee Scheme supporting Irish SMEs with over €88m in lending – Minister Pat Breen

3,519 jobs created or maintained in the lifetime of the Credit Guarantee Scheme

Minister of State at the Department of Business, Enterprise and Innovation, Mr Pat Breen TD, today welcomed the latest Quarterly Report (Q1 of 2018) 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 Q1 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, 560 facilities totaling €88.8 million have been sanctioned. These sanctions are supporting or maintaining 3,519 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 €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.”

The full report can be found here: Q1 2018 Report SME Credit Guarantee Scheme

Ends

The Department of Business, Enterprise and Innovation (DBEI) plays a key role in implementing the Government’s policies of stimulating the productive capacity of the economy and creating an environment which supports job creation and maintenance. The Department also has a remit to promote fair competition in the marketplace, protect consumers and safeguard workers.

If you would like more information about this topic, please call Press Office at (01) 631 2200 or email press.office@dbei.gov.ie.

 

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