Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs is taking the lead role in this in accordance with the commitment in the programme for Government. What I was saying was that it is not apparent to the Department of Finance what particular niche is being addressed that is not already covered by one of the other lending initiatives I have described. It has gone from a situation in 2011 and 2012 when it was very difficult for SMEs to get loans or refinancing of any sort to one where there is quite a large choice tailored to meet individual needs for SMEs. The level of contact I have with SMEs recently does not indicate that there is a shortage of credit available on the market but I do accept that certain products must be tailored to meet particular needs and the products for small businesses in rural communities are probably different from those for medium-sized industries in cities. We are open to that but it is the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs that is taking the lead role.

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