The Strategic Banking Corporation of Ireland and Killorglin based Fexco Asset Finance has launched a €70m leasing fund for Irish SMEs.
The spend brings the SBCI’s total investment in lower cost loans up to €906m across eight lending partners, five of which are non-banks.
Fexco currently offers leasing finance on fixed equipment, machinery, and vehicles, which Irish firms can use the SBCI-backed discount on.
Over the course of the year SBCI has provided funding to arm lenders – Ulster Bank, First Citizen, Bibby Financial Services and Fexco.
It was established in early 2015 and has since facilitated over 8,600 loans.