Oireachtas Joint and Select Committees
Tuesday, 15 April 2014
Joint Oireachtas Committee on Jobs, Enterprise and Innovation
Access to Finance for SMEs: Bank of Ireland, Ulster Bank and AIB
4:00 pm
Mr. Ken Burke:
We have been working hard to bring the cheapest possible credit to our customers. We are the only bank with a third round of funding. We have another €200 million in AIB funding, bringing the total to €450 million. The last tranche of €200 million is ring-fenced in the sub €300,000 lending space. We are focusing on those small and micro SMEs. That funding comes at a discount of 1.25% to our standard variable business loan rate.
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