Mary White (Fianna Fail) | Oireachtas source

That is fascinating because I have been in business for 16 years and a politician since 2002 and was asked to talk to a constituent of one of the Deputies in my party. I ran up against a stone wall about getting her help from the county enterprise boards because they do not help hair salons. I have visited her salon and this lady employs people. It is a great shame. I tried to include this issue in the new Bill relating to county and city enterprise boards in respect of mentoring but the amendment was rejected. I am taking that up formally in the Oireachtas. It was presumed that mentoring was going to cost money whereas the board of Microfinance Ireland is voluntary. It was short-sighted to reject my amendment because I said mentoring could be included. They presumed it would cost money. I intend to take it further.

It is excellent that in contrast to the banks, Microfinance Ireland lends without security or collateral. Its approval rate for completed applications in year one to 30 September is reasonable. In respect of the approval rate of between 45% and 46%, Ms Murray said that people already have a reasonable level of debt. I have referred to a friend of mine who is one of Microfinance Ireland's customers - Vicky Crosbie. She will not mind me mentioning her. She is an accountant and I told her I would mention her case today. She is a brilliant girl and is getting on very well thanks to the help of Microfinance Ireland but she did say that she does not know how one would get a loan if one were not an accountant. I presume that is the enterprise job. What she said was interesting. She knows finance and accountancy and can do it in her sleep. I asked her for her opinion. It is one to look at.

What is the projected growth in application approvals over the next two to three years in order to meet the Government's targets? Presumably, the board has a plan to meet the targets of €90 million to 5,000 enterprises over ten years and support 7,700 jobs. This equates to nine million approvals per year,1.6 million approved to 30 September 2013 and 550 enterprises supported each year, so that leaves 107 approved to 30 September 2013. There is obviously an expectation of a big pick-up in activity to meet the Government projections. The report in September refers to an average ten-day turnaround. Is this the time from application to decision? What is the turnaround between approval of loan and payment? The other point that has been referred to Senator Cullinane is the failure of three counties. Leitrim has six applications and no approvals, Donegal has four applications and no approvals and Longford has four applications and no approvals. They have been vetted by the county enterprise boards so I would like to know why this has happened. I do not need to repeat it.

It was very interesting listening to the three witnesses and I enjoyed the presentation thoroughly. They are all thorough professionals and know what they are talking about. Could Ms Murray answer my questions?