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13/02/2015
Microfinance Ireland To Support 1,000 Jobs
Microfinance Ireland (MFI) has said it will aim to support 1,000 jobs this year by supporting micro-enterprises that have been unable to secure funding.
The government has put up funding of €10m as part of the Action Plan for Jobs to enable Microfinance Ireland provide loan finance to micro-enterprises.
Microfinance Ireland is a not-for-profit lender, established to deliver the government's Microenterprise Loan Fund. Its portfolio of approved loans now stands at over €6m. So far, 430 micro-enterprises have benefited from Microfinance Ireland loans.
Michael Johnson, Chief Executive at Microfinance, said: "We plan to expand during 2015 and have an ambition to support a further 1,000 jobs, provided the economy continues to grow at the predicted rate of approximately 3%.
"The cost per job ratio and social impact represent an excellent return both on a social and economic basis. Our ambition is to double our loan portfolio and approve lending of a further €6m in 2015, which would bring total approved lending to €12m.
"We believe this is achievable as the recovery gains pace. Already, 75% of the existing customers we surveyed expect to hire additional staff in 2015."
(IT/JP)
The government has put up funding of €10m as part of the Action Plan for Jobs to enable Microfinance Ireland provide loan finance to micro-enterprises.
Microfinance Ireland is a not-for-profit lender, established to deliver the government's Microenterprise Loan Fund. Its portfolio of approved loans now stands at over €6m. So far, 430 micro-enterprises have benefited from Microfinance Ireland loans.
Michael Johnson, Chief Executive at Microfinance, said: "We plan to expand during 2015 and have an ambition to support a further 1,000 jobs, provided the economy continues to grow at the predicted rate of approximately 3%.
"The cost per job ratio and social impact represent an excellent return both on a social and economic basis. Our ambition is to double our loan portfolio and approve lending of a further €6m in 2015, which would bring total approved lending to €12m.
"We believe this is achievable as the recovery gains pace. Already, 75% of the existing customers we surveyed expect to hire additional staff in 2015."
(IT/JP)
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