Tuesday, 17 December 2019

Questions (322)

Robert Troy

Question:

322. Deputy Robert Troy asked the Minister for Business, Enterprise and Innovation the value of drawdowns issued under the microfinance scheme on 1 December 2018 and 1 December 2019; the value of approvals on the same dates; the drawdown and approval by county, in tabular form; and if she will make a statement on the matter. [53309/19]

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Written answers (Question to Business)

The Microenterprise Loan Fund Scheme, administered by Microfinance Ireland was introduced in 2012.  The purpose of the Fund is to provide unsecured loans of €2,000 up to €25,000 for terms of up to five years to microenterprises that cannot obtain funding through traditional sources. Microenterprises are defined as businesses with less than 10 employees and /or turnover of less than €2m.  

The total value of loans approved on 1 December 2018 was €26.7 million and the total value of drawdowns on that date was €23.2 million.  The total value of loans approved on 1 December 2019 was €32.9 million and the total value of drawdowns on that date was €28.3 million.  

Table 1 – The Value of Loans Approved and Drawdowns on a County Basis on 1 December 2018

County

Value of loans approved

Value of drawdowns

Carlow

€377,495

€319,995

Cavan

€502,735

€442,736

Clare

€836,397

€717,397

Cork

€2,386,825

€2,088,831

Donegal

€734,493

€711,493

Dublin

€5,753,394

€4,767,099

Galway

€1,146,159

€1,216,789

Kerry

€768,994

€664,995

Kildare

€1,033,658

€909,660

Kilkenny

€425,146

€374,647

Laois

€437,481

€359,981

Leitrim

€389,711

€364,211

Limerick

€1,398,387

€1,189,389

Longford

€575,246

€436,749

Louth

€647,194

€602,194

Mayo

€908,109

€712,610

Meath

€1,264,398

€1,099,900

Monaghan

€277,347

€214,847

Offaly

€475,658

€359,663

Roscommon

€561,795

€522,795

Sligo

€793,194

€622,395

Tipperary

€1,196,283

€1,105,283

Waterford

€880,492

€692,493

Westmeath

€751,095

€706,095

Wexford

€1,368,978

€1,240,979

Wicklow

€805,345

€748,345

Total

€26,696,009

€23,191,571

Table 2 – The Value of Loans Approved and Drawdowns on a County Basis on 1 December 2019

County

Value of loans approved  

Value of drawdowns

Carlow

€494,495

€454,495

Cavan

€600,935

€534,736

Clare

€983,097

€807,097

Cork

€2,811,625

€2,460,131

Donegal

€882,993

€851,993

Dublin

€7,430,394

€6,303,599

Galway

€1,746,940

€1,535,441

Kerry

€958,994

€854,995

Kildare

€1,307,258

€1,097,160

Kilkenny

€458,966

€413,647

Laois

€526,687

€434,187

Leitrim

€487,711

€458,711

Limerick

€1,604,387

€1,365,389

Longford

€624,246

€470,749

Louth

€790,194

€735,194

Mayo

€1,079,109

€871,110

Meath

€1,484,838

€1,254,840

Monaghan

€332,347

€254,847

Offaly

€563,158

€447,163

Roscommon

€707,995

€647,995

Sligo

€897,194

€691,395

Tipperary

€1,280,283

€1,205,283

Waterford

€1,182,592

€866,593

Westmeath

€839,595

€782,595

Wexford

€1,757,828

€1,562,829

Wicklow

€1,026,845

€983,345

Total

€32,860,706

€28,345,519

Microenterprises play a vital role in the Irish economy. I am committed to ensuring that they have access to appropriate and affordable finance to help them to achieve their business goals.  Supporting these enterprises to access the finance they need has been a cornerstone policy for the Government and for my Department over the past number of years.