John Perry (Sligo-North Leitrim, Fine Gael) | Oireachtas source

Taking the last question first, the number of applications was 149 and the total value was €2.78 million.

It was set up as a private limited company but the intention is to deliver on the ambition of the target over a ten-year period. The Minister will launch the roll out of the one-stop-shop in every facility and obviously its promotion is very important. That will probably generate engagement on the ground. In regard to the cost of the scheme, it is a not-for-profit one. The rate is at 8.8%. There is a high risk to the loan. People have been refused by the banks. Very good evaluation is being carried out. To ensure it is successful, it is very important there is a level of monitoring for the applicant once he or she gets the funding. It is not the intention to erase current bank lending but loans for less than €25,000 are available for sole traders who cannot avail of conventional banking.

People with start-up companies are delighted to get it. There was a company in my office last evening which is very much depending on getting the €25,000-----

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