The Lenders Of Last Resort

at

Your business needs credit?

Don’t worry. Call Govloanz.

From merrionstreet.ie:

  • Government [has] sanctioned the establishment of a Micro Finance Loan Fund to generate up to €100 million in additional micro-enterprise lending which will benefit over 5,000 businesses over a ten year period. The Fund will be in place in the first quarter of 2012
  • The establishment of a Temporary Partial Credit Guarantee Scheme. Minister [Richard] Bruton will now proceed to draft legislation and shortly appoint an operator for the Scheme which will also be in place in the first quarter of next year. The scheme will be demand-led, and for every €100million guaranteed will benefit over 1200 businesses, and provide at least €15million in net benefit to the exchequer.
  • A second call worth approximately €60million under Innovation Fund Ireland also to take place in Q1 2012, after the recent finalisation of the capital budgets of Department of Jobs, Enterprise and Innovation.

To recap: If you run a business and you can’t get a loan from a bank (owned by you know who?), the government will instead go guarantor.

This is why we saved the banks.

Happy now?

Government To Partially Guarantee Loans To Firms Who cannot Get Finance (Irish Examiner)

 

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