SFA welcomes EIB €200m funding for SMEs

Monday, 29 April 2013

  • SFA welcomes EIB €200m funding for SMEs

The Acting Director of the Small Firms Association, Avine McNally, welcomed the announcement that €200m will be provided by the EIB to Irish SMEs through AIB. “It is good news that the financial institutions are taking further action to obtain funding to assist their small business customers.”

The SFA’s Spring Business Sentiment Survey shows that one in four small firms still have difficulties in accessing credit. McNally said, “Many viable companies are facing short term cashflow problems due to restricted access to finance; extension of creditor days taken by customers and reduced spending. Any solutions which assist firms through financial support is a positive step.”


However, McNally cautioned that the real test of success will be in the “speedy delivery of the funding to ensure small business survival.”

Ends.

For Further Information: Avine McNally, Acting Director, Small Firms Association,
Tel: 087-645 0205. Twitter: @SFA_Irl

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