Kerry businesses awarded over €2 million under Credit Guarantee Scheme

Kerry businesses have been awarded over €2 million to date under the Credit Guarantee Scheme.

It’s a Government initiative set up in 2012 to encourage lending to commercially viable small and medium-sized enterprises, which aren’t able to gets loans from their banks.

The current participating lenders are AIB, Bank of Ireland, and Ulster Bank, and they’re provided with a Government-backed guarantee for 75% of the loan value.

Businesses can borrow between €10,000 and €1 million for up to 7 years.

As of the end of June, Kerry companies have been issued with a total of €2.16 million under the scheme; nationally, 471 loans to the value of €75 million have been sanctioned.