Dáil Éireann Debate, Thursday - 13 July 2017
100. Deputy Niall Collins asked the Tánaiste and Minister for Jobs, Enterprise and Innovation the value of drawdowns issued under the microfinance scheme on 31 December 2015, on 31 December 2016 and on 30 June 2017, respectively; the value of approvals on the same dates by county of each drawdown and approval; and if she will make a statement on the matter. [34724/17]
View answerMicrofinance Ireland (MFI) provides small loans through the Government’s Microenterprise Loan Fund to help start ups and established businesses to start up a small business or expand an existing small business.
MFI provides me with Quarterly Reports of progress, and these Reports are published on the websites of both MFI and my Department. The Report for Quarter 2 of 2017 will be received shortly, and will then be published on the relevant websites.
The latest available figures (up to end Q 1 of 2017) sought by the Deputy are detailed in the following tables.
Microfinance Ireland is working within its new Strategy ‘The Way Forward’ 2017-2021. At the centre of this strategy is the strategic vision which provides for the need for Microfinance Ireland to create a value proposition by being the best in class micro-lender, creating and supporting jobs and fulfilling the borrowing requirements of microenterprises across Ireland. The strategic vision also aims to exceed the strategic objective of the fund of supporting the creation of 7,700 jobs in Ireland.
This new strategy is already bearing fruit as Microfinance Ireland was recently awarded a certification of compliance with the European Code of Good Conduct for Microcredit Provision. This certification confirms Microfinance Ireland’s position as a best in class micro credit provider in Europe, being one of the first four institutions in Europe to qualify and the only organisation in Ireland to receive this award.
The Board of Microfinance Ireland continues to monitor the risk appetite of the organisation in relation to the level of loan defaults. My Department is represented on that Board and, overall, I am satisfied with the level of engagement and performance of the Fund to date.
Table 1- Geographic Spread for Value of Drawdowns
|
County |
2015 Value (000’s) |
2016 Value (000’s) |
Q1 2017 Value (000’s) |
|
Dublin |
880 |
941 |
257 |
|
Cork |
485 |
357 |
127 |
|
Galway |
188 |
269 |
29 |
|
Wexford |
161 |
235 |
79 |
|
Meath |
220 |
137 |
55 |
|
Tipperary |
184 |
236 |
53 |
|
Kildare |
310 |
101 |
39 |
|
Limerick |
179 |
233 |
105 |
|
Mayo |
208 |
111 |
25 |
|
Cavan |
176 |
77 |
0 |
|
Wicklow |
157 |
111 |
0 |
|
Waterford |
146 |
77 |
40 |
|
Clare |
240 |
175 |
27 |
|
Sligo |
190 |
155 |
0 |
|
Kerry |
120 |
100 |
82 |
|
Westmeath |
104 |
154 |
10 |
|
Roscommon |
129 |
56 |
46 |
|
Louth |
126 |
99 |
0 |
|
Donegal |
95 |
72 |
44 |
|
Laois |
67 |
56 |
9 |
|
Longford |
55 |
233 |
25 |
|
Carlow |
113 |
10 |
26 |
|
Leitrim |
111 |
85 |
35 |
|
Offaly |
11 |
92 |
4 |
|
Kilkenny |
70 |
74 |
37 |
|
Monaghan |
27 |
40 |
5 |
|
Total |
4,752 |
4,286 |
1,158 |
Table 2-Activity Levels of Microfinance Ireland
|
End March 2017 |
Q1 2017 |
2016 12 mths |
2015 12 mths |
2014 12 mths |
2013 12 mths |
2012 3 mths |
Fund to End Dec 2014 |
Fund to End Dec 2015 |
Fund to End Dec 2016 |
|
|
Application Nos |
2,735 |
235 |
861 |
752 |
508 |
320 |
59 |
887 |
1,639 |
2,500 |
|
Applications €000 |
44,524 |
3,450 |
13,567 |
12,319 |
8,449 |
5,669 |
1,070 |
15,188 |
27,507 |
41,074 |
|
Approvals Nos |
1,249 |
82 |
397 |
357 |
274 |
127 |
12 |
413 |
770 |
1,167 |
|
Approvals €000 |
18,183 |
1,095 |
5,392 |
5,378 |
4,158 |
2,000 |
160 |
6,318 |
11,696 |
17,088 |
|
Drawdown Nos |
1,081 |
86 |
330 |
319 |
223 |
119 |
4 |
346 |
665 |
995 |
|
Drawdowns €000 |
15,362 |
1,158 |
4,284 |
4,744 |
3,277 |
1,847 |
52 |
5,176 |
9,920 |
14,204 |
|
Jobs(Nos) Net |
2,948 |
137 |
990 |
930 |
581 |
289 |
21 |
891 |
1,821 |
2,811 |
