The SME sector is set for a €75m cash injection via a State lender, the Strategic Banking Corporation of Ireland (SBCI).
The SBCI was set up to ensure favourable loan rates reached SMEs, by funnelling State-sourced money through banks and other lenders, who could then pass on the benefits.
The €75m package is going to Finance Ireland, a non bank entity. It will be used to boost Finance Ireland’s offering in areas like hire purchase and working capital products.
Finance Ireland chief executive Billy Kane said: “the SBCI funding has been a significant benefit to the many hundreds of SME customers we deal with on a daily basis, and this new facility will ensure that benefit continues into the future.”
Article Source: http://tinyurl.com/kbwqb42
- Fed poised to get in first with rate cut despite market risks
- Ireland at full employment as jobless rate unchanged
- Government surplus of €50m in 2018, new CSO figures show
- Disorderly Brexit biggest risk to financial stability – Central Bank
- No-deal Brexit could result in higher taxes for online shoppers
- 21 Belvedere Place, Dublin 1
- +353 1 855 4188
- +353 1 836 6550
- 15 Jul 2019Fed poised to get in first with rate cut despite market risks
- 15 Jul 2019Ireland at full employment as jobless rate unchanged
- 15 Jul 2019Government surplus of €50m in 2018, new CSO figures show
- 12 Jul 2019Disorderly Brexit biggest risk to financial stability – Central Bank
- 12 Jul 2019No-deal Brexit could result in higher taxes for online shoppers