Michael P. Kitt
Question:47 Mr. M. Kitt asked the Minister for Enterprise and Employment if he has satisfied himself with the operation of the £200 million access to finance scheme, particularly in the western region. [16145/95]
Written Answers. - Access to Finance Scheme.
The access to finance scheme addresses the key need to small business borrowing for low cost funds, certainty of repayments and simplicity of administration and banking. The scheme commenced on 1 September 1995 and, at this point, it is too early to make any definitive statements as to its economic or regional performance.
However, I understand that the four participating banks are experiencing a high level of demand from the small business sector and expect the scheme to be taken up quickly. In accordance with the arrangements agreed with the banks and the European Union, its ongoing performance will be closely monitored by my Department.