Microenterprise Loan Fund (Amendment) Bill 2024: Second Stage
Seanad Éireann — 2026-04-15
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Alan Dillon (FG), Mayo

For the rest of the week, which is even better again.
I thank all the Senators who have contributed to this debate and for their constructive and positive tone in regards to the transfer of Microfinance Ireland into State ownership. Many Senators have outlined the vital role the organisation plays in supporting small businesses with the challenges that many of them have when starting out through assessing their financial model and ensuring they have access to capital when it is required in order that they can bring ideas, determination and talent to the next stage of their business journey. That is essentially what we are all trying to achieve in this Bill.
To Senator Lynch's point on a review of the current €50,000 limit, we will certainly keep that under consideration and review and assess the appropriateness of responding to the needs of businesses. It is important that when this organisation is set up its board and CEO will be accountable to the Oireachtas and the Committee on Enterprise, Tourism and Employment and there will be exchanges on what we are hearing in our communities, through the different chambers of commerce and business organisations, about the appropriateness of that limit. We can discuss this further as the Bill progresses.
As I said earlier, the measures in the Bill place Microfinance Ireland on a more secure and sustainable footing for the years ahead. Bringing the organisation into State ownership will ensure a clearer alignment with the wider enterprise support system and strengthen its collaboration with the local enterprise offices. That is important because we know that when many businesses start up they engage with the local enterprise offices, which have a local reach in our towns and villages. The LEOs also give free advice which will now be even more structured. They play a central role in supporting small businesses in our localities.
By establishing the foundations through this Bill, we are enabling Microfinance Ireland to expand its capacity, extend its reach and continue to be responsive to needs and demands right across our economy. The Bill will also ensure that microenterprises that rely on Microfinance Ireland can continue to access essential finance when it is most needed. We have seen significant results in regard to Microfinance Ireland. Over 6,000 loans have been approved and over 11,800 jobs supported, with grants of over €102 million already distributed.
I look forward to Senators' continued engagement as the Bill progresses to Committee Stage. I thank them again for their contributions.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/seanad/2026-04-15/debate/main
Retrieved: 2026-08-14T04:54:48+00:00
Sitting date: 2026-04-15