Niall Collins (Limerick County, Fianna Fail)
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144. To ask the Minister for Finance the total SBCI loan stock currently available for SMEs to avail of; and if he will make a statement on the matter. [40861/16]

Michael Noonan (Limerick City, Fine Gael)
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The Strategic Banking Corporation of Ireland (SBCI) began lending in March 2015 with a goal to increase the availability of low cost, flexible funding to Irish SMEs. The SBCI channels its funds through lending partners, known as on-lenders. The SBCI currently has three bank and five non-bank on-lending partners.

The SBCI has funding agreements in place with the European Investment Bank, KfW, ISIF and the NTMA and has a current funding capacity of over €1 billion to enable it to make low cost loans available to Irish SMEs across all qualifying sectors.

To the end of September 2016, the SBCI has lent €458 million to 10,684 SMEs. The SMEs who have received SBCI finance are from a variety of business and economic sectors and are spread across all regions of the country. SBCI loans are for a variety of purposes, including agricultural and other investment, working capital, lease and hire purchase and refinancing.

The SBCI is in the process of finalising additional funding agreements; this will increase the SBCI funding available to Irish SMEs who are seeking finance to invest in and grow their businesses.