Steady Progress Made On Loan Fund To Help 5,500 Businesses – O’Connell

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THE LABOUR PARTY CLLR FOR YOUGHAL, CLLR TARA O’CONNELL has welcomed the progress being made this week in the Dáil on the Microenterprise Loan Fund Bill. The legislation has been put forward to assist microenterprises that are viable but have been refused funding from their bank.

“There are many microenterprises the length and breadth of the country that are successful and viable but need money to grow their business. Many of these businesses do not fill the conventional criteria the banks require in order to lend to them and the Microenterprise Loan Fund has been created to help these exact people.

“A microenterprise is a business employing 10 or less people and they are the very businesses we see in our town and villages and that are a part of our communities. Without the support they need, many of these businesses will not survive so this fund is to be welcomed.

“The fund will lend over €90 million to 5,500 microenterprises, creating 7,700 jobs over a ten year period and the loan facility will be operational later in the year. Start-ups, existing businesses and sole traders will be eligible to apply to the fund and loans of up to €25,000 will be provided.

“Labour in Government promised to follow a growth agenda and to create jobs and while this loan fund may be a small step it is nonetheless a significant one. We will continue to work hard to support our indigenous businesses and I welcome the fact that this legislation is making steady progress through the Dáil ahead of its implementation later in the year.”

STATEMENT BY Tara O’Connell Labour Party Cllr for Youghal July 14th 2012

For more information contact Cllr Tara O’Connell at 0858877423

www.labour.ie/Tara O’Connell

Youghal Labour Party Councillor Tara O'Connell - Pic: Youghalonline

Youghal Labour Party Councillor Tara O’Connell – Pic: Youghalonline

 

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