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.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: NewstalkFM - 🏆 19. / 55 Read more »
Source: IrishTimesBiz - 🏆 6. / 77 Read more »
Rising cost of living difficult for many - DonohoeThe Minister for Finance Paschal Donohoe has said that after nearly two years of anxiety and trauma of a pandemic, Irish people are facing new challenges with the rising cost of living.
Source: RTEbusiness - 🏆 16. / 61 Read more »
Cost of living rising 'more quickly' than beforeThe Minister for Finance has told the Dáil that 'many families, many businesses, many workers' are facing cost of living increases which are 'rising far more quickly' than before.
Source: RTEbusiness - 🏆 16. / 61 Read more »