Written answers
Wednesday, 29 June 2022
Department of Agriculture, Food and the Marine
Departmental Funding
Matt Carthy (Cavan-Monaghan, Sinn Fein)
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216. To ask the Minister for Agriculture, Food and the Marine the amount allocated by his Department to the Strategic Banking Corporation of Ireland to date; the current book value of loans to farmers or fishermen currently arising from such funding; the current potential value of loans available to farmers or fishermen to apply for; in tabular form; and if he will make a statement on the matter. [34759/22]
Charlie McConalogue (Donegal, Fianna Fail)
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My Department, in partnership with the Department of Enterprise, Trade & Employment and the Department of Finance, has worked with the Strategic Banking Corporation of Ireland (SBCI) to deliver a number of loan schemes that support SMEs in Ireland, including farmers, fishers and SME food businesses.
Public funds provided for these schemes mainly relate to the provision of guarantees, with the lending institutions providing the actual finance for the loans. Any unused guarantee funding is repayable. Details of the various schemes are below, including funding provided to SBCI and the loan approval amounts. More information is available at sbci.gov.ie/.
| Scheme | Year | Value | Funding from DAFM | Loans issued | Remaining available |
|---|---|---|---|---|---|
| Brexit Impact Loan Scheme | 2021 to date | €315m | €11m | 596 loans to the value of €48.6m to farmers. 97 loans to the value of €17.5m to food businesses. | €59.9m |
| COVID-19 Credit Guarantee Scheme | 2020 to date | €2bn | No upfront funding requirement; DAFM is responsible for defaults from the primary sector in arrears. | 1,576 loans to the value of €76.9m to farmers. 57 loans to the value of €3.9m to fishers | €1.3bn (across all sectors) |
| Future Growth Loan Scheme | 2019 to date | €800m | €14.2m to SBCI and €49.1m to European Investment Fund (EIF). | 1,285 loans to the value of €153.4m to farmers. 277 loans to the value of €69.7m to food businesses. 30 loans to the value of €11.6m to fishers. | |
| SBCI Working Capital Scheme (encompassing Brexit Loan Scheme and Covid-19 Working Capital Scheme) | 2018 to 2021 | €337.5m | €11.7m (unused funding of €5.5m was transferred to the BILS) | Brexit Loan Scheme: 47 loans to the value of €10.8m to food businesses. COVID-19 WCS: 161 loans to the value of €13.3m to food businesses. | This Scheme is now closed following the launch of the BILS. |
| Agriculture Cashflow Support Loan Scheme (ACSLS) | 2017 | €145m | €25m | €145m to farmers. | This Scheme is now closed. |
Matt Carthy (Cavan-Monaghan, Sinn Fein)
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217. To ask the Minister for Agriculture, Food and the Marine the amount of funding provided by his Department to the Strategic Banking Corporation of Ireland with regard to the Brexit impact loan scheme to facilitate the provision of credit to farmers and fishermen; the total potential value of loans arising from same; the total and average value of such loans which have been made; the number of applications refused; the total potential value of loans yet to be made, in tabular form; and if he will make a statement on the matter. [34760/22]
Charlie McConalogue (Donegal, Fianna Fail)
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My Department, in partnership with the Department of Enterprise, Trade & Employment and the Department of Finance, has worked with the Strategic Banking Corporation of Ireland (SBCI) to deliver a number of loan schemes that support SMEs in Ireland, including farmers, fishers and food businesses.
Public funds provided for these schemes mainly relate to the provision of guarantees, with the lending institutions providing the actual finance for the loans. Any unused guarantee funding is repayable.
The Brexit Impact Loan Scheme (BILS) is a €315m medium-term, low-cost loan scheme established in 2021 to fund working capital and investments for businesses impacted by Brexit and COVID-19 (sbci.gov.ie/products/brexit-impact-loan-scheme-bils). BILS is demand-led, with loans issued as applications are lodged by various business sectors. However, my Department’s funding ensures that 40% of the overall fund is available for farmers, fishers and food businesses. 2,223 eligibility applications have been approved in total under BILS, of which 1,200 to the value of approximately €141.7m have been sanctioned. Of these 1,200 sanctioned loans, 596 with a value of €48.6m (32%) relate to farmers and 97 with a value of €17.5m (12%) relate to food businesses. To date, no loan applications have been approved or issued to fishers under the BILS.
The details requested are as follows.
| Funding from DAFM to SBCI | Total potential loan value | Number of loans issued to farmers | Total value of loans issued to farmers | Average value of loans issued to farmers | Loans to farmers approved but yet to be drawn | Total potential value of loans yet to be made |
|---|---|---|---|---|---|---|
| €11m | €126m* | 596 | €48.6m | €81,543 | 383 | €59.9m |
SBCI advise that they do not collect information on the number of applications refused.
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