Ireland Strategic Investment Fund to boost SME loans

The Government’s Ireland Strategic Investment Fund (ISIF) has invested €30m for a stake in Finance Ireland Investment, a lender which primarily focuses on SMEs, in a bid to boost lending for businesses.

It is the first time that the fund has taken a stake in a non-bank lender.

Set up 14 years ago by Billy Kane, who once headed up Permanent TSB, Finance Ireland also advances loans to the agriculture, motor, and commercial property firms, and to borrowers.