Written answers
Thursday, 19 April 2018
Department of Jobs, Enterprise and Innovation
Credit Guarantee Scheme Data
Billy Kelleher (Cork North Central, Fianna Fail)
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206. To ask the Minister for Jobs, Enterprise and Innovation the value of drawdowns issued under the credit guarantee scheme on 31 December 2016 and 31 December 2017; and the value of approvals for the same period of each drawdown and approval by county in tabular form. [17306/18]
Heather Humphreys (Cavan-Monaghan, Fine Gael)
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The Credit Guarantee Scheme (CGS) has been in operation since 2012, and as of 31 December 2017, 530 loans to the value of €84,396,594 have been sanctioned by participating lenders under the scheme. The CGS is currently operated on behalf of the Minister for Business, Enterprise and Innovation by the Strategic Banking Corporation of Ireland (SBCI).
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 attached document.
In addition, Quarterly Reports providing full details of the latest Credit Guarantee Scheme performance are published on my Department’s website www.dbei.gov.ie.
Modification to the Credit Guarantee Scheme legislation was provided for in Statutory Instruments in late 2017 to give effect to necessary changes in the operation of the Scheme. I would expect that these changes will see enhanced use of the scheme in future years.
The CGS is one element of a suite of supports which when combined with other Government initiatives such as Microfinance Ireland, the Strategic Banking Corporation of Ireland, the Credit Review Office and the Prompt Payment Code should enable companies to expand, service new markets and grow employment.
I note that the amount of lending sanctioned under the credit guarantee scheme for the 12 months to 31 December 2017 was €19,726,700.
2017
| Year | No. Of Facilities Sanctioned | Amount of CGS Facilities Sanctioned |
|---|---|---|
| 2012 | 6 | €582,000 |
| 2013 | 88 | €12,107,500 |
| 2014 | 68 | €9,283,344 |
| 2015 | 108 | €20,385,050 |
| 2016 | 131 | €22,312,000 |
| 2017 | 129 | €19,726,700 |
| Total as at 31st December 2017 | 530 | €84,396,594 |
| Status | No. of CGS Facilities | Amount of Lending |
|---|---|---|
| CGS loans sanctioned by Lenders since launch | 530 | €84,396,594 |
| Declined or Cancelled by the customer | 67 | €11,171,250 |
| Declined by the lender | 3 | €180,000 |
| Ineligible | 3 | €467,000 |
| CGS Facilities at 31st December 2017 | 457 | €72,578,344 |
| County | Amount of Lending |
|---|---|
| Carlow | €1,770,000 |
| Cavan | €0 |
| Clare | €927,000 |
| Cork | €5,076,000 |
| Donegal | €197,000 |
| Dublin | €31,981,200 |
| Galway | €3,780,500 |
| Kerry | €2,610,000 |
| Kildare | €4,512,000 |
| Kilkenny | €0 |
| Laois | €1,606,950 |
| Leitrim | €1,000,000 |
| Limerick | €7,445,594 |
| Longford | €0 |
| Louth | €1,637,000 |
| Mayo | €953,100 |
| Meath | €1,535,000 |
| Monaghan | €250,000 |
| Offaly | €790,000 |
| Roscommon | €80,000 |
| Sligo | €57,000 |
| Tipperary | €1,121,000 |
| Waterford | €1,000,000 |
| Westmeath | €1,522,000 |
| Wexford | €1,266,000 |
| Wicklow | €1,461,000 |
| Total | €72,578,344 |
2016
| Year | No. Of Facilities Sanctioned | Amount of CGS Facilities Sanctioned |
|---|---|---|
| 2012 | 6 | €582,000 |
| 2013 | 88 | €12,107,500 |
| 2014 | 68 | €9,283,344 |
| 2015 | 108 | €20,385,050 |
| 2016 | 131 | €22,772,000 |
| Total as at 31st December 2016 | 401 | €64,669,894 |
| Status | No. of CGS Facilities | Amount of Lending |
|---|---|---|
| CGS loans sanctioned by Lenders since launch | 401 | €64,669,894 |
| Declined or Cancelled by the customer | 62 | €10,615,000 |
| Declined by the lender | 3 | €180,000 |
| Ineligible | 3 | €467,000 |
| CGS Facilities at 31st December 2016 | 333 | €53,407,894 |
| County | Amount of Lending |
|---|---|
| Carlow | €1,770,000 |
| Cavan | €0 |
| Clare | €667,000 |
| Cork | €3,348,000 |
| Donegal | €197,000 |
| Dublin | €24,182,000 |
| Galway | €2,241,500 |
| Kerry | €1,210,000 |
| Kildare | €3,285,000 |
| Kilkenny | €295,000 |
| Laois | €1,916,950 |
| Leitrim | €1,000,000 |
| Limerick | €4,375,344 |
| Longford | €0 |
| Louth | €1,160,000 |
| Mayo | €733,100 |
| Meath | €795,000 |
| Monaghan | €250,000 |
| Offaly | €540,000 |
| Roscommon | €80,000 |
| Sligo | €57,000 |
| Tipperary | €1,071,000 |
| Waterford | €750,000 |
| Westmeath | €1,057,000 |
| Wexford | €1,266,000 |
| Wicklow | €1,161,000 |
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