Dáil Question on the Credit Gaurantee Scheme

-   Alan Farrell TD

To ask the Minister for Jobs, Enterprise and Innovation the number of applications for funding received to the credit guarantee scheme since it has been established; the number of approved loans; the amount that has been paid out to date; the feedback that has been received on job creation; and if he will make a statement on the matter.

Reply from the Minister for Jobs, Enterprise and Innovation Richard Bruton T.D.

The Credit Guarantee Scheme (CGS) began operations on 24th October 2012. As at 31st March 2013 there were twenty- four live CGS facilities resulting in €3,131,600 being sanctioned through the scheme by the participating lenders and it is expected that 181 new jobs will be created and 25 jobs maintained.
The Department does not monitor actual applications to the banks. Decision making on individual loan applications has been fully devolved to the participating lenders AIB, Bank of Ireland and Ulster bank.
Quarterly progress reports are published on my Department’s website www.enterprise.gov.ie. The new progress report detailing the analysis and performance of the CGS for the quarterly period ending end 31st March 2013 is now available on my Department’s website.

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