My Department, in partnership with the Department of Enterprise, Trade & Employment and the Department of Finance, has worked with the Strategic Banking Corporation of Ireland (SBCI) to deliver a number of loan schemes that support SMEs in Ireland, including farmers, fishers and SME food businesses.
Public funds provided for these schemes mainly relate to the provision of guarantees, with the lending institutions providing the actual finance for the loans. Details of the various schemes are below, including funding provided to SBCI and the loan approval amounts. The vast majority of repayments are on schedule, with low default rates to date, also set out below.
Scheme
|
Year
|
Value
|
Funding from DAFM to SBCI
|
Loan Approvals to Date
|
Comment
|
Brexit Impact Loan Scheme
|
2021
|
€330 million
|
€5.5 million
|
238 loans to farmers to the value of €19.2m.
29 loans to food businesses to the value of €5.3m.
|
Up to 40% available to the agri-food sector, including farmers, fishers and food businesses.
0% default rate to date.
|
COVID-19 Credit Guarantee Scheme
|
2020 to date
|
€2billion
|
-
|
1,357 loans to farmers to the value of €64m.
48 loans to fishers to the value of €3.4m.
|
No upfront funding requirement; DAFM is responsible for defaults from the primary sector in arrears.
0.14% default rate to date.
|
Future Growth Loan Scheme
|
2019 to date
|
€800 million
|
€14.178 million
|
1,281 loans to farmers to the value of €151.3m
30 loans to fishers to the value of €11.6m
278 loans to food businesses to the value of €70.4m.
|
Almost at capacity.
A further €49.1m was paid by DAFM to the European Investment Fund (EIF).
0.01% default rate to date.
|
SBCI Working Capital Scheme (encompassing the Brexit Loan Scheme and the Covid-19 Working Capital Scheme)
|
2018 to 2021
|
€337.5
million
|
€11.7 million
|
Brexit Loan Scheme: 48 loans to the value of €11m to food businesses.
COVID-19 WCS: 168 loans to the value of €14.6m to food businesses.
|
This Scheme is now closed for application following the launch of the BILS; any unused funding transfers.
0.72% default rate to date.
|
Agriculture Cashflow Support Loan Scheme
|
2017
|
€145 million
|
€25 million
|
€145m to farmers.
|
Closed in 2017.
0.42% default rate to date.
|