Dáil Éireann Debate, Wednesday - 22 January 2025
456. Deputy Albert Dolan asked the Minister for Enterprise, Trade and Employment if he will provide an update on the status of payments made by Microfinance Ireland to farmers, detailing the number, value and breakdown of payments made to farmers through Microfinance Ireland; the timeline of disbursements; the counties involved; and the types of farming enterprises supported, in tabular form. [1799/25]
Amharc ar fhreagraMicrofinance Ireland(MFI) assists businesses with fewer than ten employees. It provides much-needed funding to help microenterprises meet payments for stock, working capital requirements and other overhead expenses through the provision of low-cost lending facilities. Microfinance Ireland provides vital support to microenterprises by filling the lending gap in the market by lending to business that cannot obtain loans from other commercial lenders. In September 2024, MFI increased the permitted loan limit from €25k to €50k. The loan term is typically three years for working capital purposes and can be extended to five years for capital expenditures. Interest rates range from between 5.5% for clients of Local Enterprise Offices and other partners to 6.5% for direct applications. There is a wide regional spread of loans across the country with 78% of loans approved in 2023 to microenterprises outside Dublin.
The timeline of payments:
|
Year |
Number of loans |
Sum of Disbursed Amount € |
|
2013 |
6 |
104,998 |
|
2014 |
5 |
76,498 |
|
2015 |
12 |
207,498 |
|
2016 |
24 |
352,050 |
|
2017 |
17 |
232,900 |
|
2018 |
10 |
132,000 |
|
2019 |
10 |
157,500 |
|
2020 |
41 |
950,600 |
|
2021 |
29 |
558,300 |
|
2022 |
14 |
255,024 |
|
2023 |
14 |
225,000 |
|
Grand Total |
182 |
3,252,368 |
By County:
|
County |
Number of loans |
Sum of Disbursed Amount € |
|
Cavan |
5 |
69,999 |
|
Clare |
10 |
176,000 |
|
Cork |
15 |
290,550 |
|
Donegal |
16 |
324,600 |
|
Dublin |
6 |
91,774 |
|
Galway |
10 |
193,500 |
|
Kerry |
8 |
107,99 |
|
Kildare |
5 |
82,000 |
|
Kilkenny |
8 |
105,999 |
|
Laois |
6 |
103,000 |
|
Leitrim |
6 |
105,999 |
|
Limerick |
8 |
110,000 |
|
Longford |
1 |
14,000 |
|
Louth |
8 |
133,499 |
|
Louth |
8 |
133,499 |
|
Mayo |
15 |
241,300 |
|
Meath |
3 |
43,000 |
|
Monaghan |
3 |
55,000 |
|
Offaly |
3 |
80,000 |
|
Roscommon |
3 |
52,499 |
|
Sligo |
6 |
78,900 |
|
Tipperary |
11 |
213,999 |
|
Waterford |
3 |
63,250 |
|
Westmeath |
2 |
40,000 |
|
Wexford |
18 |
368,500 |
|
Wicklow |
3 |
90,000 |
|
Grand Total |
182 |
3,252,368 |
Types of farming enterprises supported:
|
Nace Heading |
Number of loans |
Sum of Disbursed amount € |
|
Growing of cereals, leguminous crops and oil seeds |
2 |
32,000 |
|
Growing vegetables and melons roots and tubers |
13 |
171,074 |
|
Growing of other tree bush fruits and nuts |
1 |
15,000 |
|
Growing of other perennial crops |
1 |
15,000 |
|
Plant propagation |
6 |
87,550 |
|
Raising of dairy cattle |
34 |
642,749 |
|
Raising of other cattle and buffaloes |
28 |
455,900 |
|
Raising of horses and other equines |
8 |
172,500 |
|
Raising of sheep and goats |
6 |
111,100 |
|
Raising of swine/pigs |
1 |
15,000 |
|
Raising of Poultry |
12 |
197,499 |
|
Raising of other animals |
3 |
55,000 |
|
Mixed Farming |
21 |
344,000 |
|
Support activities for crop production |
5 |
122,500 |
|
Support activities for animal production |
14 |
214,999 |
|
Silviculture and other forestry activities |
3 |
89,000 |
|
Logging |
6 |
114,498 |
|
Support services to forestry |
5 |
79,000 |
|
Marine fishing |
5 |
130,000 |
|
Freshwater fishing |
2 |
35,000 |
|
Marine aquaculture |
5 |
127,000 |
|
Fresh Water aquaculture |
1 |
25,000 |
|
Grand Total |
182 |
3,252,368 |
