Building Your Business
Accessing Credit for SMEs

1 February 2016

New changes to Credit Guarantee Bill will make it easier for SMEs to get access to credit - Minister Nash
An article from Merrionstreet.ie

 

The Minister for Business and Employment, Ged Nash TD, on Monday 1st February 2016, welcomed the passing of all stages of the Credit Guarantee (Amendment) Bill 2015. The bill has now been sent to President Higgins to be signed into law this week. 

The Credit Guarantee Scheme aims to help viable businesses which have been refused conventional bank credit facilities access a state-backed guarantee.

When it was originally introduced the guarantee covered 75% of their loan. The borrower pays a 2% annual premium, which partially covers the cost of providing the guarantee. 

The extension to the Bill should make it easier for small and medium sized businesses to get access to finance. 
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