Seán Sherlock (Cork East, Labour)
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470. To ask the Minister for Agriculture, Food and the Marine the number of businesses that have availed of the Brexit loan scheme by county and by sector; and the average breakdown loaned between €25,000 and €1.5 million. [48936/18]

Michael Creed (Cork North West, Fine Gael)
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The Brexit Loan Scheme provides affordable working capital to eligible businesses with up to 499 employees that are or will be impacted by Brexit and meet the scheme criteria. The €23 million exchequer funding (€9 million from my Department and €14 million from the Department of Business Enterprise and Innovation) has been leveraged to provide a fund of up to €300 million. The Scheme has been designed to assist eligible Irish businesses in the short-term to deal with the challenges of Brexit, which include the pressures of increased market instability and currency volatility.

The Scheme was launched in March this year and will remain open until 31st March 2020, or until it is fully subscribed. As of 16 November, there have been 304 applications received, with 265 deemed eligible and 53 loans progressed to sanction at finance provider level to a value of €12.46 million. This equates to an average loan value of €235,000. These figures were issued as an interim update.

The SBCI issue a detailed report on a quarterly basis, which includes county level breakdown, sector breakdown, etc. The figures below are those as at the most recent quarterly report, dated 02 October 2018.