Enhanced Credit Guarantee Scheme Is Good For Small Business

Chambers Ireland has yesterday (21 March 2017) welcomed the announcement of the new Credit Guarantee Scheme 2017 by Minister for Employment and Small Business, Pat Breen TD.

Commenting on the new Scheme, Ian Talbot, Chief Executive, Chambers Ireland said, “The announcement of the new and enhanced Credit Guarantee Scheme is good news for Irish business and will increase the vital support needed to access finance for SMEs. The announcement of the new Scheme comes at a good time as accessing the finance needed to expand and plan for growth is more important than ever for Irish SMEs as they face the challenges of planning for Brexit, identifying and accessing new and alternative export markets and utilising a wider range of trade finance instruments appropriate for different markets.”

“The reforms to the Credit Guarantee Scheme will hopefully address access to finance issues facing many small businesses by extending the definition of loan agreements to cover invoice finance and overdrafts and will allow SMEs greater flexibility in borrowing; all measures to be welcomed.”

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