Peadar Tóibín (Meath West, Sinn Fein)
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Separate legislation would be necessary to change the SBCI system but it is important to say that the SBCI has to go through a pillar bank or another form of lending to have access to consumers which limits its engagement and ability to lend. Often the pillar banks have proven that they simply do not feel the need to promote SBCI funding. I have heard from firms that went to a bank for SBCI-type funds but the bank asked them to consider the bank's funds instead. In that way they were diverted from the fund and the process fell apart. In its report today, the Central Bank talks about the limited competition in the State. It is important to find a role for SBCI to lend directly to SMEs in the future.