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Mon 03 Mar 2009Small firms face tough competition for bank funding
The announcement of funding from Europe for Ireland’s SMEs is helpful but shortfalls in working capital remain a key problem for business, writes FRANK DILLON
LAST WEEK’S announcement of a new €300 million loan package for small businesses from the European Investment Bank (EIB) came as welcome news for Ireland’s hard-pressed SME sector. The EIB is providing loan packages of €100 million each to AIB, Bank of Ireland and Ulster Bank, in addition to the €50 million in EIB funds already drawn down by Bank of Scotland Ireland through its UK parent, HBOS.
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