Written answers
Thursday, 23 February 2017
Department of Jobs, Enterprise and Innovation
Credit Guarantee Scheme Data
Niall Collins (Limerick County, Fianna Fail)
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432. To ask the Minister for Jobs, Enterprise and Innovation her views on the current drawdown levels issued under the credit guarantee scheme, including the total value of approvals on the same dates and a county breakdown of each drawdown and approval; and if she will make a statement on the matter. [9441/17]
Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
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The Credit Guarantee Scheme (CGS) has been in operation since 2012, and as at 17 February 2017, 423 loans to the value of €68,036,144 have been sanctioned by participating lenders under the scheme. The CGS was operated on behalf of the Minister for Jobs, Enterprise and Innovation by Capita Asset Services until 14 October 2016 and since then the Strategic Banking Corporation of Ireland (SBCI) has taken over as Operator.
While the benefit of a guarantee is offered to a borrower under the scheme, some borrowers do not proceed with the guarantee. A significant number of cases are listed as ‘Pending’ by the participating lenders, and the operator only holds partial information on such cases. As a result, it is not possible to quantify the drawdowns of loans considered under the scheme. A breakdown of sanctioned loans where county information is known is provided in the following table.
In addition, Quarterly Reports providing full details of the latest Credit Guarantee Scheme performance are published on my Department’s website.
| CGS 2012 | County Split as at 17.02.2017 | - |
|---|---|---|
| County | Total € | No. of loans |
| Dublin | 30,265,000 | 167 |
| Carlow | 1,770,000 | 5 |
| Cavan | 350,000 | 1 |
| Clare | 1,013,250 | 7 |
| Cork | 4,396,000 | 37 |
| Donegal | 197,000 | 2 |
| Galway | 2,841,500 | 19 |
| Kerry | 1,210,000 | 10 |
| Kildare | 4,962,000 | 25 |
| Kilkenny | 295,000 | 1 |
| Laois | 2,096,950 | 10 |
| Leitrim | 1,100,000 | 3 |
| Limerick | 4,995,344 | 40 |
| Longford | - | 0 |
| Louth | 1,460,000 | 10 |
| Mayo | 933,100 | 10 |
| Meath | 1,045,000 | 9 |
| Monaghan | 250,000 | 1 |
| Offaly | 890,000 | 7 |
| Roscommon | 80,000 | 1 |
| Sligo | 57,000 | 1 |
| Tipperary | 1,071,000 | 8 |
| Waterford | 750,000 | 5 |
| Westmeath | 1,057,000 | 6 |
| Wexford | 1,266,000 | 6 |
| Wicklow | 1,551,000 | 11 |
| County Unknown (Declined/ineligible) (Note 1) | 2,134,000 | 21 |
| Total | 68,036,144 | 423 |
Note 1: The final figure of 21 loans to the value of €2,134,000 listed as County Unknown relates to loans that were initially approved by the finance provider, but were declined by the customer or found to be ineligible. We do not have any county information on those cases.
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