The latest ISME Quarterly Bank Watch Survey issued by the Irish Small & Medium Enterprises Association confirms that there has been a significant deterioration in the number of businesses who successfully accessed credit from their banks in the last quarter. The figures are alarming, indicating that the issue of bank credit remains a serious problem for the economy, with little or no improvement in the last two years. The results also confirm that the number of applications for credit remains muted, mainly due to general economic uncertainty and a perception that the banks will not entertain their credit requests.
Kernel Capital has launched the €10M Bank of Ireland MedTech Accelerator Fund, Ireland’s first Seed Fund to focus exclusively on the indigenous medical technology sector. With investments ranging from €100,000 to €500,000, the Fund is focussed on export orientated high potential start-up Life Sciences companies that operate in the medical device, diagnostics or medical/laboratory sectors.
RTE’s The Business TV show is organising a Pop Up Bank for one day only. From banks to credit unions, state agencies to venture capitalists, charities to non-profit organisations, The Business Pop Up Bank will pull it all together to try and help you find the best credit agency for your business.
The Central Bank of Ireland has published the findings of a Review (“the Review”) of the Small and Medium Sized Enterprises (“SME”) strategic lending plans of banks operating in the Republic of Ireland.
In its end of year review for 2010, the AIB Seed Capital Fund, an AIB / Enterprise Ireland partnership, has reported 13 new investments in new and existing investees. This brings to over 40 the total investments made in 30 Irish companies by year end. The fund’s investments are split approximately 55/45 between Dublin city and county and the rest of Ireland.