Grid Finance names former top Department of Finance official John Moran as chairman

  • 📰 IrishTimesBiz
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 77%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Company advances cash to micro and small businesses via IrishTimesBiz

However, it got out of crowdfunding, an area where companies raise small amounts of funding from a large number of people, in 2019, blaming the slow pace of plans to regulate the industry.

Grid now focuses on providing short-term loans to businesses that earn money from credit card and debit card sales - an area known as merchant card financing. It raises its own funds through institutional investors. It lent out about €10 million last year and Mr Butler told The Irish Times earlier this week that it expects the figure to grow to €25 million in 2022.

He also said that the company is assessing the new crowdfunding regulatory regime and will decide by the end of March whether to re-enter this retail funding market for busi-nesses. “Grid is positioning for growth and to play a key role in supporting the recovery of businesses as the Covid-19 restrictions are relaxed. We have ambitions to support as many as 10,000 businesses by the end of 2023,” Mr Butler said on Friday.“With John on board as non-executive chairman, he will provide vital strategic input and expertise that will be invaluable as we continue on our journey to help SME’s build their financial health and well-being.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 6. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Access to finance and staff are biggest issues facing tech start-upsAccess to finance and staff are biggest issues facing tech start-ups via IrishTimesBiz
La source: IrishTimesBiz - 🏆 6. / 77 Lire la suite »