A new ‘Small Business Recovery Scheme’ launched by AIB last week is to provide additional working capital to assist small businesses on the road to economic recovery.
The €500 million initiative, which the bank has described as “the first of its kind in Ireland” is to specifically target small businesses including sole traders, farmers, partnerships and limited companies.
The bank believes the scheme offers further evidence of its “recapitalisation commitment to the Government” for an additional €3 billion of new or further lending to SMEs during this and next year.
AIB Business Banking’s chief in Waterford and Tipperary said the new scheme offers further evidence of the bank’s oft-stated goal of “meeting the needs of all its business customers”.
Speaking to The Munster Express, Hugh Mansfield added that the initiative re-iterated the bank’s commitment to both retail and small business markets.
Mr Mansfield stated: “We are acutely aware that the significant deterioration in the business environment continues to create severe cash flow difficulties for many of our business customers.
See The Munster Express newspaper for full story.