State­len­der­will help­boost­SMEs

The Kerryman (North Kerry) - - NEWS -

THE SME sec­tor is set for a €75m cash in­jec­tion via a State lender, the Strate­gic Bank­ing Cor­po­ra­tion of Ire­land (SBCI).

The SBCI was set up to en­sure favourable loan rates reached SMEs, by fun­nelling State-sourced money through banks and other lenders who could then pass on the ben­e­fits.

The €75m pack­age is go­ing to Fi­nance Ire­land, a non-bank en­tity. It will be used to boost Fi­nance Ire­land’s of­fer­ing in ar­eas such as hire pur­chase and work­ing cap­i­tal prod­ucts.

Fi­nance Ire­land chief ex­ec­u­tive Billy Kane said: “The SBCI fund­ing has been a sig­nif­i­cant ben­e­fit to the many hun­dreds of SME cus­tomers we deal with on a daily ba­sis, and this new fa­cil­ity will en­sure that ben­e­fit con­tin­ues into the fu­ture.”

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