Damien English (Meath West, Fine Gael)
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It is clear from all the presentations we have received on this topic over the last month or so that the financial capability of the applicant business and the standard applications are not good enough. That refers back to the amount of mentoring and business coaching required. Are you getting requests you cannot even look at or deal with? Are members telling you they need money? There are mixed reports as to whether there is a demand from SMEs. It is clear to us that there is a demand and that there is a gap in this area. What are your thoughts on that?

Is there an interest in credit unions funding working capital as opposed to asset lending? There is an issue with businesses constantly being asked to provide additional security and guarantees. One can probably eventually get money for an asset but one needs working capital and seasonal lending to survive. Most of the businesses credit unions deal with would have different requirements as the year passes. That is being missed by the players at present. Is there a desire on the part of credit unions to plug that gap?