Credit Guarantee Scheme supporting Irish SMEs with over €84m in lending – Minister Pat Breen 

12th April, 2018

3,290 jobs created or maintained in the lifetime of the Credit Guarantee Scheme

Minister of State at the Department of Business, Enterprise and Innovation, Mr. Pat Breen, T.D., today welcomed the latest Quarterly Report (Q4 of 2017) from the Strategic Banking Corporation of Ireland (SBCI) on its operation, on behalf of the State, of the Credit Guarantee Scheme (CGS) for SMEs.

The latest Report shows that in Q4 of 2017, CGS Facilities were sanctioned for 28 Irish SMEs, for a total of over €4.9 million in funding that will create or maintain 125 Irish jobs.

Since the Credit Guarantee Scheme became operational in October 2012, 530 facilities totaling €84.4 million have been sanctioned.  These sanctions are supporting or maintaining 3,290 jobs.

Commenting on the publication of the latest Quarterly Report today, Minister Breen said:

“I am pleased to see that the Credit Guarantee Scheme continues to support Irish SMEs in every region, and across 16 sectors of the economy.  Over €84m in sanctioned facilities are now supporting 3,290 jobs.  I would encourage SME operators seeking finance to examine whether the Credit Guarantee Scheme is the right option for them to grow their business.”