Credit Guarantee Bill 2012

Public bill · Government · Presented

The Credit Guarantee Bill 2012 would create a temporary scheme to help viable small and medium-sized businesses get bank loans when lenders might otherwise refuse them. The State would guarantee 75% of qualifying loans to businesses with up to 250 employees, while limiting its total exposure to €150 million in lending each year; businesses would pay a premium. The Minister could set the scheme’s rules, appoint an operator, withdraw guarantees from non-compliant lenders and review the scheme, with the estimated net cost to the State over three years at about €19 million.

Formal long title

Bill entitled an Act to enable the Minister for Jobs, Enterprise and Innovation to give guarantees to lenders of a certain class in respect of loans made by such lenders to enterprises of a certain class; for that purpose to provide for the making of a scheme or schemes by that Minister of the Government in relation to the giving of such guarantees; and to provide for matters connected therewith

Last updated 16 April 2018