SMEs and farmers in Meath should avail of SBCI funding to grow their businesses – Butler

Fine Gael Meath Senator, Ray Butler, has called on SMEs and farmers in Meath to avail of Strategic Banking Cooperation of Ireland funding to grow their businesses.

“The SBCI was set up in March 2015 and the aim is to provide lower cost funding to Irish SMEs, along with new flexible loan products. Over €750m has been committed so far by the SBCI and up to the end of 2015 over 4,600 SME’s in Ireland have drawn down loans. The average loan size is €37,000.

“Speaking to many business people in Meath, I know how difficult it can be to secure finance. The SBCI is a great option that more people should consider.
“Products offered by the SBCI include:
· Investment and working capital loans
· Agricultural Investment Loans
· Leasing and Hire Purchase Finance
· Facilities to re-finance loans from banks who have exited from Ireland

“Over 80% of companies availing of these loans are using them to invest in growing their business and I’m sure there are many SMEs and farmers in Meath who are keen to do this. I would encourage them to explore the option of SBCI funding.

“Small businesses are the lifeblood of the local economy in Meath, supporting jobs and communities, and Fine Gael in Government is committed to helping them, to not just survive, but to grow and realise their potential.”