Micro-finance plan ‘could create thousands of jobs’

The launch of a €90m micro-finance scheme by the Government has the potential to create thousands of jobs, it was claimed yesterday.

The scheme was launched by the Enterprise and Jobs Minister Richard Bruton. It means that from Monday, businesses and sole traders employing up to 10 people that have been refused bank loans of up to €25,000 will have their applications accepted and processed.

Based on the Government’s projections the scheme will provide more than €90m in extra lending to 5,500 businesses and create an additional 7,700 jobs over 10 years.