SME Lending in Ireland Increased
The Strategic Banking Corporation of Ireland (SBCI) published its midyear 2017 update, which said €855m in lending supported 21,132 SMEs by the end of June 2017. This is an increase of 57% on the €544m in SBCI-supported lending at the end of December 2016.
Agriculture accounted for the highest percentage of at 23.2 percent or 3,687 SMEs. The average loan size was €42,253. SMEs benefitted by an average of 1.15% versus market rates for loans of less than €250,000, while the agricultural sector continued to account for most of the value of loans (23%).