Written answers
Tuesday, 3 December 2019
Department of Jobs, Enterprise and Innovation
Credit Guarantee Scheme Data
Robert Troy (Longford-Westmeath, Fianna Fail)
Link to this: Individually | In context | Oireachtas source
301. To ask the Minister for Jobs, Enterprise and Innovation the value of drawdowns issued under the credit guarantee scheme to date; the value of approvals to date; the detail of each drawdown by county and approval; the breakdown of drawdown and approvals by firm size of less than 10, 11 to 49, 50 to 249 and more than 250 employees in tabular form. [50033/19]
Heather Humphreys (Cavan-Monaghan, Fine Gael)
Link to this: Individually | In context | Oireachtas source
The Credit Guarantee Scheme provides a State guarantee through my Department to accredited lenders (Allied Irish Banks, Bank of Ireland and Ulster Bank Ireland) of 80% on eligible loans or Performance Bonds to viable Micro, Small and Medium-sized Enterprises (“SMEs”). The Guarantee is paid by the State to the lender on the unrecovered outstanding principal balance on a Scheme Facility in the event of a borrower defaulting on the Scheme Facility repayments.
The purpose of the Scheme is to encourage additional lending to SMEs, not to substitute for conventional lending. SMEs are thus enabled to develop a positive track record with the lender with the objective of returning to standard commercial credit facilities in time.
Since the launch of the Scheme in October 2012 a total of €123,261,390 has been sanctioned by participating lenders, with an overall drawdown of €90,272,844 for the period up to the end of the third quarter of 2019, as reported by the Strategic Banking Corporation of Ireland which administers the Credit Guarantee Scheme.
Table 1 below provides reported data up to the end of third quarter of 2019 on a county basis.
Table 1 – Sanction Amounts and Drawdowns on a County Basis
| County | Sanctioned Amount (€) | Value of drawdowns (€) |
|---|---|---|
| Carlow | 2,326,000 | 1,660,000 |
| Cavan | 0 | 0 |
| Clare | 2,218,250 | 1,542,000 |
| Cork | 11,258,000 | 8,358,000 |
| Donegal | 880,000 | 880,000 |
| Dublin | 53,928,262 | 41,184,700 |
| Galway | 6,248,500 | 3,848,500 |
| Kerry | 3,180,000 | 2,480,000 |
| Kildare | 6,954,500 | 5,384,500 |
| Kilkenny | 1,220,000 | 495,000 |
| Laois | 2,454,950 | 1,214,950 |
| Leitrim | 1,100,000 | 1,000,000 |
| Limerick | 10,333,594 | 7,534,594 |
| Longford | 0 | 0 |
| Louth | 2,117,000 | 1,802,000 |
| Mayo | 1,653,100 | 983,100 |
| Meath | 2,587,500 | 1,790,000 |
| Monaghan | 250,000 | 250,000 |
| Offaly | 1,076,500 | 946,500 |
| Roscommon | 680,000 | 680,000 |
| Sligo | 57,000 | 57,000 |
| Tipperary | 1,844,000 | 1,216,000 |
| Unknown | 1,967,000 | 0 |
| Waterford | 1,251,234 | 1,000,000 |
| Westmeath | 2,242,000 | 2,022,000 |
| Wexford | 1,716,000 | 1,516,000 |
| Wicklow | 3,718,000 | 2,428,000 |
| Total | 123,261,390 | 90,272,844 |
Note - in some cases the bank did not report the county and these are categorised as unknown
Data in respect of the size of the enterprise benefitting from the Scheme is only available for the period commencing from 1 July 2018 – the introduction of the revised scheme. Table 2 below provides this data for the period from 1stJuly 2018 up to the end of the third quarter of 2019, as reported by the Strategic Banking Corporation of Ireland which administers the Credit Guarantee Scheme.
Table 2 – Sanction Amounts and Drawdowns by Enterprise Size
| Employee Range | Sanctioned Amount (€) | Value of drawdowns (€) |
|---|---|---|
| Less than or equal to 10 employees | 16,649,063 | 10,581,500 |
| 11 to 49 employees | 11,668,234 | 9,619,500 |
| 50 to 249 employees | 1,650,000 | 1,650,000 |
| 250 or greater employees | 0 | 0 |
| Unknown | 80,000 | 0 |
| Total | 30,047,297 | 21,851,000 |
Note: In some cases the bank did not report the enterprise size and these are categorised as unknown
No comments