Credit Guarantee Scheme expected to dominate SME lending this year

Scheme sees the State guarantee 80% of money lent by financial firms to SME customers

Former 123.ie managing director Niall O'Grady has been appointed CEO of alternative lender Linked Finance. 

Loans underwritten by the Government’s €2bn Covid-19 Credit Guarantee Scheme are likely to dominate SME lending for the first half of this year, at least, according to the new head of alternative lender Linked Finance.

However, experts have – in the past – warned the scheme may be of little help to many smaller businesses because it is much more expensive for borrowers than Britain's version.