Dáil Éireann Debate, Friday - 16 September 2016
1859. Deputy Niall Collins asked the Minister for Jobs, Enterprise and Innovation the total value of drawdowns issued under the Credit Guarantee Scheme on 30 June 2016, on 31 December 2015 and on 30 June 2015, in tabular form; the total value of approvals on the same dates; to provide a county breakdown of each drawdown and approval; the reason for the delay in the legislation to review the scheme; and if she will make a statement on the matter. [24349/16]
View answerThe breakdown of loan approvals by participating lenders and accepted by borrowers under the Credit Guarantee Scheme are collected and collated on a regional basis and are listed below. It is not possible to provide a breakdown for loans where the borrower has not yet consented to data sharing. For this reason, it is not possible to provide details of individual drawdowns due to data protection issues.
The total drawdown figure at end of June 2016 was €16.3m. I welcome the increased levels of activity over the past 18 months which is delivering much needed finance to our SMEs, and am pleased to be able to add that, overall, there was a significant increase in facilities sanctioned in the most recent quarter to June 2016, a level that was significantly higher than in any quarter since the Scheme began.
Quarterly Reports providing full details of the latest Credit Guarantee Scheme performance are published on my Department’s website.
Since inception, my Department has kept a close watch on the performance of the Credit Guarantee Scheme. In the light of less than satisfactory outcomes after the first few years of operation, a review was conducted that proposed a range of changes to improve performance. Not all of these reforms required primary legislation, and effect was given to some of them in a new Scheme made in 2015.
As to the reforms that required primary legislation, it took some time to finalise the legal texts in consultation with the Attorney General’s Office, and amending legislation was passed by both Houses in February 2016. My officials are currently finalising secondary legislation containing a further new Scheme that will give effect to revised terms and product ranges resulting in greater availability of credit to SMEs, and I expect this work to be finalised within weeks.
Breakdown of loan approvals under the Credit Guarantee Scheme by Region
|
Region |
Value of Approvals at 30th June 2015 |
Value of Approvals at 31st December 2015 |
Value of Approvals to 30th June 2016 |
|
East (Dublin, Kildare, Meath and Wicklow) |
€13,183,000 |
€19,192,000 |
€27,196,000 |
|
South West (Cork and Kerry) |
€2,410,000 |
€2,770,000 |
€3,898,000 |
|
South East (Waterford, Wexford, Carlow, Kilkenny and South Tipperary) |
€2,198,000 |
€3,053,000 |
€3,706,000 |
|
Midlands (Laois, Longford, Offaly, Roscommon, and Westmeath) |
€2,048,950 |
€2,143,950 |
€3,563,950 |
|
West (Galway and Mayo) |
€1,414,600 |
€1,804,600 |
€2,709,600 |
|
Mid West (Limerick, Clare and North Tipperary) |
€3,271,844 |
€5,080,344 |
€5,076,344 |
|
North West (Donegal, Sligo and Leitrim) |
€57,000 |
€147,000 |
€1,137,000 |
|
North East (Cavan, Louth and Monaghan) |
€440,000 |
€500,000 |
€1,470,000 |
|
Total |
€16,050,844 |
€34,690,894 |
€48,756,894 |
