Stephen Donnelly (Wicklow, Independent) | Oireachtas source

The issue for me in this regard pertains to microfinance. The Credit Guarantee Act and the microenterprise loan fund exclude credit unions from participation. My understanding from credit union representatives to whom I spoke is that while they can make loans for personal reasons, whatever they may be, they are prohibited from making loans for business purposes. I am taking that from them and if that is correct, this amendment seeks to reverse that position. Before I get into the reasons for so doing, perhaps the Minister will confirm whether we have the same understanding that credit unions are prohibited from making small loans for enterprise.