DOWN District SDLP Councillor and the party’s local enterprise spokesperson Dermot Curran has spoken out in support of Invest NI’s recent announcement.
Cllr Curran said, “I have only heard brief details of Invest NI’s announcement however what I have learned to date must be welcomed. It relates to a new scheme which will give loans to companies which cannot access equity.
“Invest NI envisages this scheme to be up and running within 3 months. This fund is worth approximately £50million and is geared towards small and medium-sized businesses in difficult economic times. However I am concerned that Invest NI has announced that the interest rates would be higher than the banks. How much higher?
“I hope that stringent checks and measures would be in place to ensure that money is only leant to those who could adequately afford to pay it back. I understand that the scheme itself still has to be approved by the FSA but I look forward to learning more detail on the scheme itself.”