The Strategic Banking Corporation of Ireland (SBCI) is now supporting 12,500 Irish SMEs employing 67,000 people with its low-cost loans, according to a new economic impact report published today.
The report was published in advance of the SBCI’s appearance at the Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach.
The report’s key findings include:
SBCI Chief Executive Nick Ashmore said:
“2016 was a year of major progress by the SBCI as we lent significantly more money and added more lending partners – bringing the total number of SBCI loan providers to 8.
We also sourced additional low-cost funding from two new sources, which will allow us to bring more competition, more choice and better deals for Irish SMEs.
We are working hard to bring more lending partners and new risk-sharing loan products to the market in the coming months.
The recent success of our €150m Agriculture Cashflow Support Scheme shows that Ireland’s job creators are crying out for innovative low-cost loans and we are well placed to bring more of these to the market quickly.
With these additions to our loan programme, coupled with enhancements to the Credit Guarantee Scheme, we look forward to delivering effective, attractive supports for Irish SMEs in 2017 and beyond”.
You can view the 2016 impact document here.