Niall Collins (Limerick County, Fianna Fail)
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137. To ask the Minister for Finance the actions he is taking to increase the rate of credit lending to businesses via the Strategic Banking Corporation of Ireland; the level of take up from the fund by businesses at 31 December 2016; and if he will make a statement on the matter. [15474/17]

Michael Noonan (Limerick City, Fine Gael)
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The Strategic Banking Corporation of Ireland (SBCI) is Ireland's national promotional institution for SMEs. Its aim is make sustainable and appropriately priced finance available to viable Irish SMEs and support investment by them that encourages growth and facilitates employment across the whole country. The SBCI does not lend directly, rather it lends its funds to SMEs through lending partners, known as on-lenders. The SBCI currently has eight on-lending partners, three bank and five non-bank. The SBCI is seeking to broaden its distribution capability and market coverage by adding new on-lenders and working to develop innovative products, thereby serving to drive competition in the SME finance market.

I am pleased to note that, to the end of December 2016, the SBCI has lent circa €544 million to 12,589 SMEs supporting an estimated 67,150 jobs. These figures represent a significant increase in lending by the SBCI during 2016. The SMEs who received SBCI finance are from a variety of business and economic sectors and are spread across every region of the country. More than 80% of loans are for investment purposes and the average loan size is €43,000. There is a broad geographical spread of the SMEs supported with approximately 85% of them based outside Dublin. The SBCI is using its significant funding capacity, of over €1 billion, to support Irish SMEs investing in and growing their businesses.