Minister publishes Microenterprise Loan Fund Bill – Scheme expected to be operational in early autumn.
Over €90million in additional lending to 5,500 micro-enterprises will be made available under a Government scheme which is expected to create 7,700 jobs over 10 years, the Minister for Jobs, Enterprise and Innovation Richard Bruton TD announced recently. Minister Bruton was speaking as the Microenterprise Loan Fund Bill was published following a Government decision.
The Microenterprise Loan Fund Scheme, which is expected to be operational from early autumn, will initially facilitate €40million in additional lending to businesses employing not more than 10 people over the next five years, with provision for the scheme to be extended to provide an additional €50million of lending over a further five years at that point. Start-ups, sole traders and existing microenterprises will be eligible to apply for a loan under the scheme.