The Strategic Banking Corporation of Ireland (SBCI) is a public bank that was established in 2015 in the wake of the Irish banking crisis to provide finance for small and medium-sized businesses. At the time it was set up, many of Ireland's main banks were unable or unwilling to provide to businesses. The Strategic Banking Corporation of Ireland does not provide loans directly to businesses themselves, but instead provides finance to the main banks at low cost, with the idea that the money is then loaned on to business. As of 2016, the bank had provided €347m to small businesses. Its Chief executive is June Butler.[1][2]
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References
- Brexit decision makes it harder to attract new business lenders to Ireland – SBCI boss The Irish Independent, Independent News and Media, 21 July 2016, retrieved 21 July 2016^
- Eoin Burke-Kennedy. 'If the money isn’t used the way we expect it to be used, we’ll take it back' The Irish Times, The Irish Times Trust, 27 February 2015, retrieved 21 July 2016^