Chambers Ireland welcomes Credit Guarantee Scheme

Chambers Ireland has twelcomed the announcement that the Credit Guarantee Scheme will go live on Wednesday, October 24.

Ian Talbot, Chambers Ireland Chief Executive, said the scheme is something that the Chamber Network has been calling for since 2009.

Mr Talbot said: "We have consistently pushed for its implementation since its announcement last year. The scheme has the potential to help a number of viable small business gain much-needed access to credit and will be of particular advantage to high growth SMEs that are categorized as ‘high risk’.

"We urge any business in need of a loan to get down to their bank to explore all funding options.

"With the potential to benefit over 1,800 businesses and create 1,300 jobs it is much needed at a time when unemployment remains at an unacceptably high rate. Supporting the domestic economy and containing the cost of employment must be the priority for Budget 2013 if these measures are to have any benefit to business."