Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

157. To ask the Minister for Finance the number and value of business loans that are now owned by unregulated non-bank lenders; and if he will make a statement on the matter. [39529/16]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I have been informed by the Central Bank that it does not publish data on this basis. However, the SME Credit Demand Survey, conducted on behalf of the Department, monitors the credit requirements of SMEs. The latest published survey indicates that demand for non-bank finance for SMEs is considerably lower than bank finance. For the period October 2015 to March 2016, the survey indicates that seven percent of SMEs sought non-bank finance, this represented a reduction of three percentage points on the previous period.

The Government remains committed to the SME sector, as reflected in the Programme for a Partnership Government, and sees it as a key engine of ongoing economic growth. Consequently, my Department and the Credit Review Office, working with the other relevant Departments and Agencies, will continue to monitor the availability of both bank and non-bank credit on both a macro and sectoral basis in order to ensure that sufficient access to finance is available to facilitate participants in the SME sector to reach their full potential in terms of growth and employment generation. In this context, the Action Plan for Jobs 2016 includes a dedicated chapter and associated integrated set of actions to support the financing for growth in the SME sector.