Good news for North Dublin businesses

Date: 16/09/2010
Posted by: Darragh

There is good news for businesses in North Dublin and around the country as the Government is preparing a loan guarantee scheme for viable small firms.

The Minister for Enterprise, Trade and Innovation, Batt O'Keeffe T.D. has just announced that the Government is working on a loan guarantee scheme for small firms. This plan will work in tandem with the main banks and their lending obligations under the recapitalisation.

The scheme will be designed to assist commercial viable businesses who are failing to get credit from banks because they lack the necessary collateral or information despite the fact that they can demonstrate their ability to repay a loan.

In recent times I have heard stories from local business owners who are struggling to survive but lack the credit to do so. Giving practical support to local businesses helps to safeguard local jobs and the local economy.

I look forward to seeing the loan guarantee scheme finalised shortly and seeing it implemented with positive effects.