Thumbs up for credit guarantee scheme

There was a broadly positive response to the Government’s credit guarantee scheme, which becomes operational from next Wednesday.

Under the terms of the scheme, €150 million will be made available to the SME sector every year for the next three years.

The fund is aimed at businesses that have insufficient collateral and are operating in sectors that banks do not fully understand. The Government expects 5,600 businesses to benefit from the scheme which is expected to create 4,000 jobs over the next three years.