Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

These are relatively new schemes and knowledge of them at front desks in banks and among small and medium enterprises is building. Recently, I met the banks to seek better arrangements whereby at the point of refusal, people would be alerted not only to their right to appeal but also access to the loan guarantee or other loan alternatives. I would be keen to see this because approximately 24,000 small and medium enterprises are refused credit each year and only a tiny percentage either appeal this decision or consider these new options. We need to increase this. We are determined to improve it. Microfinance Ireland is rolling out initiatives through the enterprise boards and other networks to try to improve understanding.

We will review the loan guarantee scheme and we will probably start this review before the annual turnout to see whether elements of the mix can be improved. These are new schemes which were never done before. There will be a need to evolve them with time and I accept this. They are adding to the environment and it may be that only 540 jobs have been created or protected by the presence of these schemes, but they are 540 valuable jobs and we will continue to push them on.