More Funding Allocated To County Enterprise Boards

Minister for Small Business, John Perry TD, today announced the provision of an additional €3.1million to the County and City Enterprise Boards directly to fund job creation projects in the remaining months of 2011. The additional funding is provided from savings elsewhere in the Minister’s Department, and is provided in response to specific requests from CEBs. The funding is additional to the €15million already provided to CEBs in 2011.

The Minister made the announcement to the Small Business Advisory Forum, which he is Chairing this morning. Making the announcement, Minister Perry said:

“If we are to get out of this crisis, it is crucial that we strive in every way possible to encourage the start-up and expanding businesses that will create the jobs of the future. The County and City Enterprise Boards around the country have a key role to play in providing much-needed capital for these businesses. This year a number of CEBs have indicated that they would not have sufficient funding to respond to the needs of start-ups in their area, and so the Department sought to make savings in other areas to provide funding for these vital businesses”

Announcement comes as details of a loan guarantee scheme for small businesses will be presented to the Minister for Enterprise Jobs and Employment, Richard Bruton next week.

The Government is hoping to introduce a partial loan guarantee scheme, which is said would help struggling companies who are unable to secure loans from banks. The government is also undertaking a “demand survey” among small businesses which it said will reveal the true extent of business lending.

The Amount of Funding being allocated to each board are as follows:

Carlow – €60,000

Cavan – €50,000

Clare – €120,000

Cork City – €20,000

Cork North – €73,957

Cork South – €250,000

Donegal – €120,000

Dublin City – €250,000

Dublin South – €87,000

Dun Laog/ Rathdown – €200,000

Fingal – €175,000

Galway – €350,000

Kerry – €100,000

Kildare – €75,000

Kilkenny – €40,000

Leitrim – €70,000

Limerick City – €60,000

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