Peter Barry
Ceist:14 Mr. Barry asked the Minister for Enterprise and Employment whether the service sector will be eligible for the small business loan scheme.
Written Answers. - Small Business Expansion Loan Scheme.
John Connor
Ceist:42 Mr. Connor asked the Minister for Enterprise and Employment the plans, if any, he has to assist a company (details supplied) in County Roscommon which has put a proposal to his Department to establish a major native cut flower industry.
Phil Hogan
Ceist:55 Mr. Hogan asked the Minister for Enterprise and Employment if he will review the minimum loan provision of £50,000 in the recently announced loan scheme for small business in view of the fact that it will automatically exclude many small businesses from benefiting.
Patrick D. Harte
Ceist:67 Mr. Harte asked the Minister for Enterprise and Employment if he will review the minimum size of loan under the enterprise fund.
I propose to answer Questions Nos. 14, 42, 55 and 67 together.
The ICC Bank small business expansion loan scheme is intended to assist job creation by providing guaranteed, long duration, low cost, finance for small business.
To participate in the scheme, firms must be in the following sectors: manufacturing companies paying, or eligible to pay, 10 per cent corporation profits tax; internationally traded service companies, as defined by Forbairt — IDA Ireland, that is, companies — individuals who are trading internationally, primarily exporting and engaged in specified activities — consideration will also be given to other potentially internationally traded services; specific Bord Fáilte registered accommodation and Bord Fáilte-SFADCo approved tourism projects and services. Confining eligibility to the sectors mentioned is intended to maximise the employment impact of the limited funds available under the scheme.
We are keeping the operation of the scheme, including eligibility and size of loan, under review. The scheme has, however, only been in operation for four months and it would be premature to make any changes at this stage.