Dáil Éireann Debate, Wednesday - 18 October 2017
78. Deputy Maurice Quinlivan asked the Tánaiste and Minister for Business, Enterprise and Innovation the number of businesses estimated to avail of the new €300 million Brexit loan scheme; the average size of loans envisaged; when the scheme will come into operation; the length of time the scheme will operate for; and if she will provide detailed information on the proposal. [44109/17]
View answerThe Brexit Loan Scheme will provide affordable working capital financing to Irish businesses that are either currently impacted by Brexit, or will be in the future. The new Scheme will be delivered by the Strategic Banking Corporation of Ireland (SBCI) through commercial lenders to get much needed working capital into Irish businesses.
The minimum loan size will be €25,000. The maximum loan size is still under review, but it will be in excess of €1 million. Given this variance in potential loan size, an average loan size and the number of businesses availing of those loans is difficult to forecast.
Further details of the scheme will be provided over the coming weeks. SBCI will issue an open call inviting lending institutions to participate before the end of October. The scheme is expected to be in place early in the new year. It is anticipated that the scheme will remain open until 2020.
