Peadar Tóibín (Meath West, Sinn Fein)
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17. To ask the Minister for Jobs, Enterprise and Innovation the up to date draw down of the micro finance loan fund and the credit guarantee scheme. [23805/14]

Richard Bruton (Dublin North Central, Fine Gael)
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The Microfinance Loan Fund Scheme facility was introduced in October 2012 following demands from business interests for the introduction of supports for microenterprises in a difficult economic environment. It has now developed a presence in the Irish financial market.

As of 31 March 2014, Microfinance Ireland (MFI) has approved 192 applications to the value of €3m supporting 437 jobs. The latest progress report detailing the analysis and performance for the quarterly period ending 31 March 2014 is available on my Department’s website.

The SME Credit Guarantee Scheme (CGS) was launched in October 2012 in response to numerous calls from business interests. It is a novel Scheme in an Irish context which is continuing to develop a position in the Irish financial arena.

As of the 31 March 2014, the SME Credit Guarantee Scheme had eighty nine live facilities resulting in over €11.7m being sanctioned through the Scheme by the participating lenders, which has resulted in 479 new jobs being created and 255 jobs being maintained.

My Department publishes quarterly progress reports on the SME Credit Guarantee Scheme on my Department’s website www.enterprise.gov.ie. The progress report detailing the analysis and performance for the quarterly period ending 31^stDecember 2013 is available on my Department’s website. I intend to publish the next progress report for the period to 31^stMarch 2014 in the coming days.