The new Microenterprise Loan Fund Scheme will prove vital to helping small businesses succeed and grow, thereby underpinning “our future potential for jobs, growth and prosperity”.
This is the view of Labour Galway West TD Derek Nolan, who said the Government’s new scheme will make more than €90 million in additional lending available to 5,500 micro-enterprises.
The Government expects the scheme to create 7,700 jobs over the next 10 years. It will be operational from early autumn and he said start-ups, sole traders, and existing microenterprises will be eligible to apply for a loan.
“There is no doubt that many businesses are struggling hard due to the lack of credit,” said Dep Nolan. “I also hear from people in Galway about the heavy handed nature with which banks are treating them, especially small businesses. They are almost being bullied.”
Dep Nolan said the scheme is “a very positive step” which “offers a much needed lifeline” for sustainable job creation.
