There’s good news for small and medium-size enterprises (SMEs) in Ireland, loans of more than €1 billion (£85 million) have been given to them by the Bank of Ireland this year so far.
This means the government is sticking to its promise of funding initiatives, which it launched in 2012, in order to help SMEs grow.
An investment of around €3.6 billion was approved by the government to aid the expansion of SMEs – a boost which in turn is hoped to restore the flow of credit through the country’s economy.
Director of business banking Mark Cunningham said: “Bank of Ireland continues to be a very key provider of finance to viable SMEs in Ireland. We estimate that we are providing around 50 per cent of all lending being advanced to SMEs in the Irish economy.”
Now let’s hope that the UK government sticks to the initiatives that it outlined in the recent budget to help SMEs on this side of the Irish Sea.
Posted by the Secret Businessman