Ireland’s three big banks have a virtual stranglehold on small-business lending

AIB, Bank of Ireland and Ulster Bank control 95% of the market.

The State Established Strategic Banking Corporation of Ireland (SBCI) is subsidising the big banks:

SBCI lends to the Banks (BoI, AIB, Ulster Bank, KBC, etc.) at 0.8%

SBCI guarantees 80% of the Loan the Banks make to SMEs.

Current Bank rates for SBCI loans are 4.5% for <€250,000 and 3.5% for >=€250,000.

The Banks mark-up of SBCI loans to SMEs is c. 2.7% to 3.7% & the loans are 80% guaranteed by SBCI.

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Alex Templeton speaking at ECOBATE - UK - 2013

Councils should "bring local banks into being" so they can become "powerful partners" and promote economic, social and environmental benefits to their communities.

Published on Mar 21, 2013 Speaking at the 2nd European Conference on Banking and the Economy (ECOBATE) in Winchester, Alex Templeton, Director of the Farm Energy Project, explains how a disfunctional financial system has made it harder to lend to small businesses which in turn impacts communities.

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