Mr. Paul Kelly:

The working capital that I spoke to is a proposal that has been submitted to the Department and the Government. We are hoping to get funding but that initiative does not exist at the moment. There are a range of working capital loans available on which the Department of Business, Enterprise and Innovation, the Strategic Banking Corporation of Ireland and Microfinance Ireland have worked. Those loans are available at varying levels of interest rates.

Enterprise Ireland also offers working loan schemes for its client companies. There are a range of options at interest rates that vary from zero to 5%, 6% and 7%. There are issues for businesses in the tourism sector that want to access those loans. That is why we need something specific that works for the needs of the tourism business. The interest rate for a loan scheme specific to the sector will need to be as close to zero as possible to be sustainable.