Food companies take advantage of BoI scheme
Bank of Ireland Business Banking announced yesterday that €25m of its special food and beverage fund has been used by small indigenous Irish companies in the prepared food and beverage sector over 10 months.
The €50m loan fund was launched in June 2003 to fund development activity by small and family-owned companies in the sector.
Over €500,000 has been borrowed per week by Irish food and drinks companies from Bank of Ireland Business Banking.
Dermot Nolan, Head of Business Marketing, Bank of Ireland Business Banking, said: "The demand for this fund confirms the fact that the prepared food sector is growing rapidly, reflecting changing lifestyles and consumer demand for pleasure, health and convenience food.
“Half of the fund is still available to small indigenous Irish food and beverage companies who are keen to develop and expand their businesses.”
