New loan scheme for small businesses is a major boost – Corrigan

Fianna Fáil Senator for Dublin South Maria Corrigan has welcomed a new commercial loan scheme for small businesses which has been launched by Dundrum Credit Union in conjunction with the local county enterprise board.

“Hard pressed businesses will really benefit from this initiative.  The Dundrum Credit Union Small Business Loan Scheme will supply money to businesses that can be used by the employers for investing in their businesses.  This is an innovative partnership between Dun Laoghaire Rathdown County Enterprise Board and Dundrum Credit Union and recognises the importance of increasing the flow of credit to businesses to protect and create jobs,” said Senator Corrigan.

Dundrum Credit Union has put together a fund to supply small employers with loans of between €5,000 and €40,000.  Dun Laoghaire Rathdown County Enterprise Board believes the scheme can support the creation of 250 jobs in small businesses over five years.  More information on the scheme is available at http://www.dlrceb.ie/

“Applications to this scheme are being accepted from today and I really hope it’s successful and can be replicated in other areas.  Small businesses are a huge source of employment and the sector must be protected and nurtured,” added Senator Corrigan.

“Dealing with difficulties relating to credit availability is something the Government is deeply committed to.  I know the Minister for Finance Brian Lenihan is working hard to ensure that the main banks are put in good working order and that essential credit lines are restored to the business community,” concluded Senator Corrigan.