ISME: Government scheme 'could create 1,300 jobs'

Irish Small and Medium Enterprise (ISME) chief executive Mark Fielding said today that a new scheme aimed at freeing up credit could create up to 1,300 jobs.

The Credit Guarantee Bill was launched by the Enterprise Minister yesterday, and has received a cautious welcome from the business association.

The plan will see banks offered a 75% State guarantee against losses on loans that qualify.

Fielding said that it will be a shot in the arm for many companies.

"It's not a silver bullet, it'll bring a good number of businesses across the winning line," he said.

"We hope that it will lend to about 1,800 businesses.

"Those, in the normal course of events, will create somewhere in the region of 1,300 jobs so that alone will be good for the economy."