Uptake of credit guarantee scheme tops €150m

Interest in state support has risen in past few weeks, after slack response last year

14th February, 2021
Uptake of credit guarantee scheme tops €150m
Some €156 million of the €2 billion allocated to the scheme, in which the state absorbs any losses of up to 80 per cent on loans, has been drawn down by 2,788 companies

The value of loans drawn down under the state’s credit guarantee scheme has exceeded €150 million, according to new figures published by the Department of Business, Enterprise and Innovation.

The data shows a marked increase in activity under the scheme this year, with some €9.6 million of loans drawn down in the first week of February by 130 companies, up from €6.6 million in the previous week.

While that is lower than the €20...

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