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Northern Ireland businesses receive £50 million boost

Apr 30 2008

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Small businesses in Northern Ireland are to receive a £50 million boost from the Bank of Ireland.

Loans and credit to the total value of around £50 million will be on offer to businesses looking to set up or expand.

Some of the money on offer will be in the form of unsecured business loans of up to £50,000.

Loans are being provided because the small business sector is fundamental to a vibrant regional economy, the Bank of Ireland says.

Head of business banking at the bank in Northern Ireland explains the organisation wants to 'dispel the myth' that there is no cash on offer for start-ups or business growth when in fact 'nothing could be further from the truth'.

'Our commitment to our small business economy is fully demonstrated by this programme of loans and support, with the clear message that Bank of Ireland is open for business,' he says.

The Bank of Ireland is one of the major financial institutions on both parts of Ireland and was established by royal charter in 1783.

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