Charlie McConalogue
Question:18. Deputy Charlie McConalogue asked the Minister for Jobs, Enterprise and Innovation the uptake to date of the microfinance scheme; and if he will make a statement on the matter. [3331/13]
View answerThursday, 24 January 2013
Questions (18, 29)
Willie O'Dea
Question:29. Deputy Willie O'Dea asked the Minister for Jobs, Enterprise and Innovation the number of businesses that have availed of the microenterprise loan fund; and if he will make a statement on the matter. [3340/13]
View answerWritten answers
I propose to take Questions Nos. 18 and 29 together.
Microfinance Ireland (MFI) opened for business on Monday 1st October 2012. At this stage, the number of applications received as of Monday 21st January is 70, and a further 51 are in the pipeline with those applicants receiving assistance from the County Enterprise Boards.
Loans of up to €25,000 are available to microenterprises with viable business plans and repayment capacity, that have been refused access to credit from the banks. MFI is actively promoting the availability of its loan fund, for microenterprises with less than 10 staff, and are focusing in January and February on a media campaign to raise awareness of the Scheme across the country. My officials will be meeting MFI to discuss the publication of regular formal reporting shortly. It is envisaged that these reports will be available on the MFI website www.microfinanceireland.ie.