John McGuinness (Carlow-Kilkenny, Fianna Fail)
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SME businesses have told me that they find it impossible to get funding and often the only route open to them is the likes of group funding. I mean people who would come together, make available a sum of money and they test one out then in terms of one's business plan. That loan is then offered at a huge interest rate. That situation is damaging the economy and an SME sector that employs so many people, and employed almost 1 million people at one stage. The statistics hide that fact. Deputy Pearse Doherty asked Mr. Sibley whether the existing arrangements within the bank were part re-financing and, actually, it is.