Robert Troy (Longford-Westmeath, Fianna Fail)
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137. To ask the Minister for Finance the details of the SBCI business support investment platform and funding for the SME sector obtained via the European Investment Bank. [53288/19]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Strategic Banking Corporation of Ireland (SBCI) is Ireland’s national promotional institution. The purpose of the SBCI is to deliver effective financial supports to Irish SMEs to address gaps and potential failures in the Irish SME finance market as well as encouraging competition and innovation, and facilitating the efficient and effective use of EU resources and financial instruments. The SBCI achieves this through the provision of low cost liquidity and risk-sharing guarantee activities that support the provision of appropriately priced, flexible funding to Irish SMEs. 

Instead of lending directly to SMEs, the SBCI operates through partner finance providers, known as on-lenders. The SBCI has provided funding to a mixture of both banks and non-bank finance providers and currently has 7 on-lenders, 4 bank and 3 non-bank finance providers: AIB, Bank of Ireland, Ulster Bank, KBC, Finance Ireland Limited, Bibby Financial Services Ireland, and FEXCO Asset Finance.

European partners provide long-term funding at attractive rates to the SBCI to support Irish SMEs. The total funding available to the SBCI from these funding partners is currently €1 billion. Of this €1 billion, the European Investment Bank (EIB) has provided loan facilities of €400m to the SBCI, which have been fully distributed to SMEs via the SBCI’s on-lending partners.

In addition, the SBCI has received guarantees from the European Investment Fund (part of the EIB Group) to support SBCI loan schemes with a total value of €750m. The Schemes supported by these guarantees are the Agriculture Cashflow Support Loan Scheme (€150m), the Brexit Loan Scheme (€300m) and the Future Growth Loan Scheme (€300m).

Robert Troy (Longford-Westmeath, Fianna Fail)
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138. To ask the Minister for Finance the details of each bank and non-bank on lender of SBCI funds in 2018 and to date in 2019; and the amount loaned to SMEs, in tabular form. [53310/19]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Strategic Banking Corporation of Ireland (SBCI) is Ireland’s national promotional institution. The purpose of the SBCI is to deliver effective financial supports to Irish SMEs to address gaps and potential failures in the Irish SME finance market as well as encouraging competition and innovation, and facilitating the efficient and effective use of EU resources and financial instruments. The SBCI achieves this through the provision of low cost liquidity and risk-sharing guarantee activities that support the provision of appropriately priced, flexible funding to Irish SMEs.

The SBCI has provided funding to a mixture of both banks and non-bank finance providers and currently has 6 on-lenders, 4 bank and 3 non-bank finance providers: AIB, Bank of Ireland, Ulster Bank, KBC, Finance Ireland Limited, Bibby Financial Services Ireland, and FEXCO Asset Finance. Additionally in 2018, the SBCI had a further non-bank finance provider as an on-lender, First Citizen Agri Finance, this facility was closed in October 2018 following First Citizen Agri Finance raising commercial funding.

The SBCI has supported SME lending in 2018 and to date in 2019 as follows:

It is not possible to give an individual on-lender breakdown for commercial sensitivity reasons.

Please note that for 2019 the Risk sharing figures refer to loans that have been sanctioned, but are still awaiting drawdown. The vast majority of the Future Growth Loan Scheme loan approvals occurred in Q4 2019 and drawdown details will not be available until early Q1 2020.

Robert Troy (Longford-Westmeath, Fianna Fail)
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139. To ask the Minister for Finance the lending targets the SBCI has set for lending to SMEs in 2019 and 2020; and the progress to date on same. [53311/19]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Strategic Banking Corporation of Ireland (SBCI) delivers effective financial supports to Irish SMEs that address failures in the Irish credit market, while driving competition and innovation and ensuring the efficient use of available EU resources. The SBCI achieves this aim through the provision of low cost liquidity and risk-sharing activities supporting the provision of appropriately priced, flexible funding to SMEs. The SBCI does not lend directly to SMEs, but rather provides funding through its finance partners, both bank and non-bank.  

This funding is provided through both the provision of low cost liquidity as well as through risk sharing schemes, the Brexit Loan Scheme and the Future Growth Loan Scheme.

The SBCI’s lending target for 2019 was €260m. The SBCI’s total lending so far in 2019 has been €260,329,384. This consists of loans of €101,951,404 from the low cost liquidity provided to the SBCI’s on-lenders as well as loans of € 158,377,980 from the SBCI’s risk sharing schemes, the Brexit Loan Scheme and the Future Growth Loan Scheme. Please note that for 2019 the risk sharing figures refer to loans that have been sanctioned, but are still awaiting drawdown. The vast majority of the Future Growth Loan Scheme loan approvals occurred in Q4 2019 and drawdown details will not be available until early Q1 2020.

Targets for 2020 are in the process of being set.