Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Jobs, Enterprise and Innovation further to the announcement of the loan guarantee scheme for small and medium enterprises in the Budget 2012 announcements in December 2011, the total amount that has been to date extended to SMEs under the scheme and the number of SMEs to which that total relates. [9759/13]

Richard Bruton (Dublin North Central, Fine Gael)
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The Credit Guarantee Scheme is operational since 24th October 2012. There are currently 14 approved guaranteed loans resulting in €1.5m of additional lending being provided to viable companies as of close of business on 15th February 2013. As a result of the sanctioned lending it is expected that there will be 113 new jobs created and 19 jobs will be maintained.

The scheme has been designed to address market failure affecting certain SMEs on the margins of commercial lending decisions, who, because of a lack of collateral or because of the sector they operate in, face difficulties in accessing traditional bank credit. The Department and the Operator are in regular contact with the participating banks to improve take-up of the scheme, however, the Deputy will be aware that the Scheme is demand- led. Potential borrowers are being advised to contact the participating banks directly. The Department will of course keep a close eye on developments in respect of the scheme as matters unfold.

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Jobs, Enterprise and Innovation further to the announcement of the loan guarantee scheme for small and medium enterprises in the Budget 2012 announcements in December 2011, the total amount of fees paid and payable to a company (details supplied) for administering the scheme to date. [9760/13]

Richard Bruton (Dublin North Central, Fine Gael)
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Following a competitive tendering process, Capita Asset Services (Ireland) Limited was selected to operate the Credit Guarantee Scheme under the Credit Guarantee Act 2012.

The agreed charges under the terms of the contract are €199,000 plus VAT based on 1,875 loans per year for each of years 1 to 3. There is provision in the contract for revision of costs in years 2 and 3 depending on the uptake of the Scheme. The cost of the Scheme will be partially offset by receipts from the 2% premium paid by borrowers.

The Scheme went live on the 24th October 2012, and so far a total of €299,981.30 including VAT has been paid to the operator. This payment includes additional charges in respect of initial set up and implementation costs and charges in respect of training and lender accreditation costs and for the day to day running of the first quarter of the Scheme, for three lenders.