Dáil Éireann Debate, Tuesday - 26 July 2022
2156. Deputy Matt Carthy asked the Minister for Agriculture, Food and the Marine the terms of security requirements for loans funded by his Department through the Strategic Banking Corporation of Ireland; and if he will make a statement on the matter. [41590/22]
View answerMy 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 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. Any unused guarantee funding is repayable.
One of the key features of these loan schemes is the availability of unsecured finance up to a certain threshold, serving the needs of those without collateral including young farmers and new entrants. The table below details the security thresholds for each of the loan schemes.
|
Scheme |
Fund Value |
Max Loan Amount Available |
Unsecured Amount |
|
Brexit Impact Loan Scheme |
€315m |
€1.5m |
Up to €500,000 |
|
Future Growth Loan Scheme* |
€800m |
€3m |
Up to €500,000 |
|
COVID-19 Credit Guarantee Scheme* |
€2bn |
€1m |
Up to €250,000** |
|
SBCI Working Capital Scheme *(encompassing Brexit Loan Scheme and Covid-19 Working Capital Scheme) |
€337.5m |
€1.5m |
Up to €500,000 |
|
Agriculture Cashflow Support Loan Scheme* (ACSLS) |
€145m |
€150,000 |
All Loans Unsecured |
*This scheme is now closed to new applications
**except where it is a requirement of the product feature, as in the case of asset finance, invoice discount facilities etc.)
