Dáil Éireann Debate, Wednesday - 20 April 2016
108. Deputy Dara Calleary asked the Minister for Finance the total rate of credit lending to small and medium enterprises via the Strategic Banking Corporation of Ireland; the total level of take-up from the fund by businesses at 31 December 2015 and in quarter one of 2016; and if he will make a statement on the matter. [7654/16]
Amharc ar fhreagraThe Strategic Banking Corporation of Ireland (SBCI) began lending in March 2015. Its goal is to increase the provision of funding to SMEs at a lower cost and on more flexible terms than has been available in recent times on the Irish Market. The SBCI channels its funds through lending partners known as on-lenders. The SBCI currently has three bank on-lending partners and two non-bank on-lending partners.
The SBCI publishes results bi-annually. To the end of December 2015, the SBCI has lent just under €172 million to circa 4,600 SMEs. The average loan size was €37,000 and the loans were for a variety of purposes including investment, working capital and refinancing. The SMEs who received SBCI finance were from a variety of business sectors. 85% of the lending was to SMEs based outside of Dublin (West 13%, Midlands 7%, Mid West 14%, South West 19%, South East 11%, Mid East 10%, border region 11%). The SBCI will publish half year results at the beginning of the third quarter of 2016 for the first half of the year.
