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SBCI Impact Statement for 2016

 

SBCI Impact Brochure 2016The Strategic Banking Corporation of Ireland (SBCI), which was established by Government to introduce lower cost-cost funding, more flexible and SME-friendly loan products and new lenders to the Irish SME lending market, recently published an update on its progress to end December 2016.

 

2017 has also seen the SBCI expand its operations to include risk-sharing and guarantee products, the first of which was the SBCI Agriculture Cash Flow Support scheme. The success of this scheme in delivering €150 million into the Agriculture sector has demonstrated how Guarantee products could improve access to finance for Irish SMEs.

 

The appointment of the SBCI as operator and manager of the Government’s Credit Guarantee Scheme will further enhance access to finance for SMEs and will establish the SBCI as the primary conduit for risk sharing products in Ireland.

 

Key highlights of SBCI’s progress to end December 2016 are the following:

 

  • 12,593 SMEs across Ireland drew down SBCI loans totalling €544m, at an average discount of 1.15% versus market rates
  • 67,150 Irish jobs were supported by SBCI loans
  • 84% of SBCI loans were used by Irish SMEs to grow their businesses, 11% were for working capital, and 5% were to refinance loans owed to banks exiting the Irish market

 

SBCI funding benefited a wide range of sectors, from agriculture, manufacturing, food, retail and construction through to health, professional services and transport.

 

Click here to download the SBCI Impact Statement for 2016.

 

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