Marian Harkin (Sligo-Leitrim, Independent)
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144. To ask the Minister for Enterprise, Trade and Employment the amount businesses have drawn down from the €2 billion Covid-19 credit guarantee scheme launched in 2020; and if a quarterly breakdown of the amounts drawn down will be provided. [14026/21]

Leo Varadkar (Dublin West, Fine Gael)
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The COVID-19 Credit Guarantee Scheme is the largest loan guarantee scheme in the history of the State.The Scheme provides €2 billion in lending, for terms up to five-and-a-half years and offers a range of lending products between €10,000 and €1 million.  It is available to SMEs and small mid-caps (business with less than 500 employees), including primary producers (businesses engaged in the farming and seafood sectors).

This scheme is providing vital access to lending facilities for a wide range of sectors.  Businesses which have been most impacted by the effects of the virus are utilising the Scheme.  The wholesale and retail sector accounted for nineteen percent of loans drawn, the accommodation and food services sector accounted for fourteen percent of loans drawn, and the primary agriculture and fisheries sector accounted for thirteen percent of loans drawn by value, demonstrating that funding is getting to where it is most needed.

There have been 3,470 loans drawn for a value of €207 million under the Scheme up to 4 March (latest data available from participating lenders). These loans are being drawn from all over the country. 

In order to provide the public with relevant data on the performance of the scheme, my Department publishes weekly and monthly reports on its website.  These reports provide data on loans drawn under a wide variety of themes and are available at .

The Scheme is currently available through commercial banks, several non-bank lenders and a number of credit unions.  This long-term policy goal of diversification will add competition in the market and ensure a wide range of loan products are available throughout the regions.

Leo Varadkar (Dublin West, Fine Gael)
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I am aware of the difficulties that business owners continue to face and with that in mind the Government has put in place a comprehensive package to help businesses and workers during the pandemic, including the Employment Wage Subsidy Scheme (EWSS), the Pandemic Unemployment Payment (PUP), the COVID-19 Restrictions Support Scheme (CRSS), Small Business Assistance Scheme for COVID (SBASC), low-cost loans, the deferral and warehousing of tax liabilities and the waiver of commercial rates. 

I would urge business owners to seek the supports outlined above if they have not already done so. I would also suggest they contact their Local Enterprise Office and they can signpost and advise of supports that maybe available.

The SBASC scheme you refer to does have a payment of rates eligibility requirement.  The intention behind this provision is to assist businesses operating from fixed premises to meet some of the ongoing fixed costs of maintaining those premises.   

The schemes are there to help meet fixed costs that cannot be avoided and to provide basic weekly income support up to maximum of €350 per week.  They are not created to provide compensation for loss of personal income above this level or compensation for loss of profits for any sector.

I want to assure you, however, that I am in consultation with business sectors and am aware of their concerns and I and my colleagues across Government are continuing to keep the range of measures under review.