.
Denis Dillane CEO of Listowel Credit Union with Pa Laide CEO of Cara Credit Union.
LISTOWEL Credit Union and Cara Credit Union have announced that they are joining the Ukraine Credit Guarantee Scheme as lenders.
This scheme provides attractive terms and conditions and reduced interest rate loans to small businesses, farmers and fishers.
This Scheme has a lending ceiling of €1.2 billion and facilitates loans for working capital and medium-term investment.
Continued below…
.
The important features are:
• no personal guarantee or collateral required for loans up to €250,000
• loans of up to 6 years and €1 million
• reduced interest rates (vs standard market rates)
• Pre-eligibility available on Strategic Banking Corporation of Ireland (SBCI) Hub which speeds up the process
Businesses will have certainty that their liquidity funding needs can be met through low-cost loans supported by the Government.
This is a central pillar of the Government’s response to aid businesses impacted by the rapidly rising costs as a result of the invasion of Ukraine.
Pa Laide, CEO of Cara Credit Union, said; “Our business members need affordable credit to cope with the rising costs and supply chain problems, especially in energy. This scheme will enable credit unions to assist local businesses with the resources and help they require to expand. Credit unions are the core of the community, and we value the role of local businesses and the significance of this scheme for them.”
Denis Dillane, CEO of Listowel Credit Union added, “The Ukraine Credit Guarantee Scheme is a prime example of how credit unions are helping the economic activity in our communities by facilitating the provision of finance to local businesses. We are confident this scheme will be a great success and we look forward to collaborating with our local businesses, supporting them and their business.”
To find out more information, check out your local credit union in Tralee, Listowel, Killorglin, Ballybunion, Castleisland, Ballyduff or Causeway or see www.listowelcu.ie or www.caracreditunion.ie.
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….
