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Credit Guarantee Scheme backs almost €80m in lending to Irish SMEs – Minister Pat Breen
3,165 jobs created or maintained in the lifetime of the Credit Guarantee Scheme
Minister of State at the Department of Jobs, Enterprise and Innovation, Mr. Pat Breen, T.D., today (Friday) welcomed the latest Quarterly Report (Q3 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 Q3 of 2017, CGS Facilities were sanctioned for 31 Irish SMEs, for a total of over €4.4 million in funding that will create or maintain 112 Irish jobs.
Since the Credit Guarantee Scheme became operational in October 2012, 502 facilities totaling €79.4 million have been sanctioned. These sanctions are supporting or maintaining 3,165 jobs.
Commenting on the publication of the latest Quarterly Report today, Minister Breen said
“I’m pleased to see that our SMEs in all regions are continuing to benefit from the Credit Guarantee Scheme to support their business and grow and maintain employment numbers. Almost €80m in sanctioned facilities are now supporting 3,165 jobs. I encourage SMEs seeking finance to examine with their bank whether this is the right option for them.”
For further information please contact Press Office, D/Business, Enterprise and Innovation ph. 6312200 orpress.office@dbei.gov.ie