North Kildare Chamber has welcomed the announcement that the Credit Guarantee Scheme will go live on Wednesday 24th October.
Speaking this morning, Eilis Quinlan, Chamber President, said “this scheme is something that the Chamber has been calling for since 2009 and we have consistently pushed for its implementation since its announcement last year. The scheme has the potential to help a number of viable small business gain much needed access to credit and will be of particular advantage to high growth SMEs that are categorized as ‘high risk’. We urge any business in need of a loan to get down to their bank to explore all funding options. The scheme is intended to increase access to finance for businesses currently deemed too risky by the banks.
It will provide a 75% State guarantee to banks against losses on qualifying loans to firms with growth and job creation potential.”
“With the potential to benefit over 1,800 businesses and create 1,300 jobs it is much needed at a time when unemployment remains at an unacceptably high rate. Supporting the domestic economy and containing the cost of employment must be the priority for Budget 2013 if these measures are to have any benefit to business,” she concluded.