| dc.date.accessioned | 2021-03-04T11:42:42Z | |
| dc.date.available | 2021-03-04T11:42:42Z | |
| dc.date.issued | 2019-07 | |
| dc.identifier.citation | Strategic Banking Corporation of Ireland, '2nd quarter report of 2019 to the Minister for Business, Enterprise and Innovation detailing the analysis and performance of the SME Credit Guarantee Scheme at 30th June 2019', [report], Department of Business, Enterprise and Innovation, 2019-07 | en |
| dc.description | The Credit Guarantee Scheme ("CGS") provides a State guarantee through the Department of
Business, Enterprise & Innovation (the “Department”) to accredited Lenders (Allied Irish
Banks, Bank of Ireland and Ulster Bank Ireland) of 80 per cent on eligible loans or Performance
Bonds to viable Micro, Small and Medium-sized Enterprises ("SMEs"). The Guarantee is paid
by the State (the “Guarantor”) to the Lender on the unrecovered outstanding principal
balance on a Scheme Facility in the event of a Borrower defaulting on the Scheme Facility
repayments.
The purpose of the Scheme is to encourage additional lending to SME's, not to substitute for
conventional lending. SMEs are thus enabled to develop a positive track record with the
Lender with the objective of returning to standard commercial credit facilities in time. It will
also place Irish SMEs on a competitive level-footing relative to other trading competitors who
are able to avail of a guarantee in their own countries.
It is important to note that funds provided under the Scheme are neither a grant nor a
support for ailing businesses or customers in difficulty. All decision-making at the level of the
individual Scheme Facility is fully devolved to the participating Lenders.
The new Credit Guarantee Scheme became operational in July 2018 replacing the previous
CGS 2012 and CGS 2015 schemes that had been collectively in operation since 2012 (the
"Legacy Schemes"). Henceforth, all references to CGS will relate to the scheme launched in
2018. The Department has appointed the Strategic Banking Corporation of Ireland ("SBCI")
as Operator. | en |
| dc.language.iso | en | en |
| dc.publisher | Department of Business, Enterprise and Innovation | en |
| dc.rights | Y | en |
| dc.subject | SME Credit Guarantee Scheme | en |
| dc.title | 2nd quarter report of 2019 to the Minister for Business, Enterprise and Innovation detailing the analysis and performance of the SME Credit Guarantee Scheme at 30th June 2019 | en |
| dc.type | report | en |
| dc.type.supercollection | edepositireland | |
| dc.contributor.corporatename | Strategic Banking Corporation of Ireland | en |
| dc.publisher.place | IE | en |
| dc.rights.ecaccessrights | openAccess | |
| dc.identifier.uri | http://hdl.handle.net/2262/95531 | |
