Dara Calleary (Mayo, Fianna Fail)
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I would absolutely support that. The recent changes we have announced, such as increasing the loan ability to up to €50,000, will help businesses and increase their capacity. The figure €25,000 was good ten years ago but it needed to be changed.

To give the Deputy some more information on the bad-debt level, in 2020, during Covid, it was 31%, whereas in 2023, it was down to 19%, so there is a very good and proactive policy within Microfinance Ireland. Moreover, it will be working with businesses. In other financial institutions, there is not the post-loan mentorship aspect that I referred to, whereby it works with businesses to grow them. Again, bringing the body into the Department and fully into the enterprise suite, which is not to say the Social Finance Foundation did not do a very good job, and having it within the Department will make us more responsive. By working through the small business forum, the retail forum and the various other forums we have, we can engage directly with business groups and business interests to make sure Microfinance Ireland will be directly responsive.

I pay tribute to everybody in Microfinance Ireland. The bad-debt figure gives a good sense that they are proactive and are assisting companies.