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Credit Guarantee Scheme Data

Dáil Éireann Debate, Thursday - 19 April 2018

Thursday, 19 April 2018

Ceisteanna (206)

Billy Kelleher

Ceist:

206. Deputy Billy Kelleher asked the Minister for Business, Enterprise and Innovation the value of drawdowns issued under the credit guarantee scheme on 31 December 2016 and 31 December 2017; and the value of approvals for the same period of each drawdown and approval by county in tabular form. [17306/18]

Amharc ar fhreagra

Freagraí scríofa

The Credit Guarantee Scheme (CGS) has been in operation since 2012, and as of 31 December 2017, 530 loans to the value of €84,396,594 have been sanctioned by participating lenders under the scheme. The CGS is currently operated on behalf of the Minister for Business, Enterprise and Innovation by the Strategic Banking Corporation of Ireland (SBCI).

While the benefit of a guarantee is offered to a borrower under the scheme, some borrowers do not proceed with the guarantee. A significant number of cases are listed as ‘Pending’ by the participating lenders, and the operator only holds partial information on such cases. As a result, it is not possible to quantify the drawdowns of loans considered under the scheme. A breakdown of sanctioned loans where county information is known is provided in the attached document.

In addition, Quarterly Reports providing full details of the latest Credit Guarantee Scheme performance are published on my Department’s website www.dbei.gov.ie.

Modification to the Credit Guarantee Scheme legislation was provided for in Statutory Instruments in late 2017 to give effect to necessary changes in the operation of the Scheme. I would expect that these changes will see enhanced use of the scheme in future years.

The CGS is one element of a suite of supports which when combined with other Government initiatives such as Microfinance Ireland, the Strategic Banking Corporation of Ireland, the Credit Review Office and the Prompt Payment Code should enable companies to expand, service new markets and grow employment.

I note that the amount of lending sanctioned under the credit guarantee scheme for the 12 months to 31 December 2017 was €19,726,700.

2017

Year

No. Of Facilities Sanctioned

Amount of CGS Facilities Sanctioned

2012

6

€582,000

2013

88

€12,107,500

2014

68

€9,283,344

2015

108

€20,385,050

2016

131

€22,312,000

2017

129

€19,726,700

Total as at 31st December 2017

530

€84,396,594

Status

No. of CGS Facilities

Amount of Lending

CGS loans sanctioned by Lenders since launch

530

€84,396,594

Declined or Cancelled by the customer

67

€11,171,250

Declined by the lender

3

€180,000

Ineligible

3

€467,000

CGS Facilities at 31st December 2017

457

€72,578,344

County

Amount of Lending

Carlow

€1,770,000

Cavan

€0

Clare

€927,000

Cork

€5,076,000

Donegal

€197,000

Dublin

€31,981,200

Galway

€3,780,500

Kerry

€2,610,000

Kildare

€4,512,000

Kilkenny

€0

Laois

€1,606,950

Leitrim

€1,000,000

Limerick

€7,445,594

Longford

€0

Louth

€1,637,000

Mayo

€953,100

Meath

€1,535,000

Monaghan

€250,000

Offaly

€790,000

Roscommon

€80,000

Sligo

€57,000

Tipperary

€1,121,000

Waterford

€1,000,000

Westmeath

€1,522,000

Wexford

€1,266,000

Wicklow

€1,461,000

Total

€72,578,344

2016

Year

No. Of Facilities Sanctioned

Amount of CGS Facilities Sanctioned

2012

6

€582,000

2013

88

€12,107,500

2014

68

€9,283,344

2015

108

€20,385,050

2016

131

€22,772,000

Total as at 31st December 2016

401

€64,669,894

Status

No. of CGS Facilities

Amount of Lending

CGS loans sanctioned by Lenders since launch

401

€64,669,894

Declined or Cancelled by the customer

62

€10,615,000

Declined by the lender

3

€180,000

Ineligible

3

€467,000

CGS Facilities at 31st December 2016

333

€53,407,894

County

Amount of Lending

Carlow

€1,770,000

Cavan

€0

Clare

€667,000

Cork

€3,348,000

Donegal

€197,000

Dublin

€24,182,000

Galway

€2,241,500

Kerry

€1,210,000

Kildare

€3,285,000

Kilkenny

€295,000

Laois

€1,916,950

Leitrim

€1,000,000

Limerick

€4,375,344

Longford

€0

Louth

€1,160,000

Mayo

€733,100

Meath

€795,000

Monaghan

€250,000

Offaly

€540,000

Roscommon

€80,000

Sligo

€57,000

Tipperary

€1,071,000

Waterford

€750,000

Westmeath

€1,057,000

Wexford

€1,266,000

Wicklow

€1,161,000

Barr
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