Alan Kelly is feeling fortunate - and it s not just because he landed a new job. The 62-year-old Dubliner was recently named the chief executive of Metamo, a 50:50 joint venture between 16 of Ireland s largest credit unions and fintech company Fexco.
While the role is one reason Kelly feels grateful, he has also been blessed with a bout of good fortune that began in September 2019. Back then, he sold his hotel business, The Maples House Hotel in Glasnevin, just months before the Covid-19 pandemic hit Ireland and devastated the sector. You know what they say; it s better to be born lucky than rich, he says. The decision was all about luck, nothing to do with foresight.
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People First Credit Union gets green light to help Laois and Kildare businesses survive Covid-19
Credit union approved to give loans of up to €1 million
Reporter:
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Business in Laois and Kildare will be able to borrow up to €1 million from a local credit union thanks under a new plan which will see the People First Credit Union permitted to lend up under the Government’s COVID-19 Credit Guarantee Scheme (CCGS).
People First Credit Union, which is a member of Metamo, the joint venture between 16 Credit Unions and Fexco, says it will now be able to provide Government-backed loans directly to local Small and Medium Enterprises (SMEs), whose survival is critical to the vibrancy and economic wellbeing of the Laois, Kildare areas in which it operates.
Tánaiste welcomes Credit Union participation in COVID-19 Credit Guarantee Scheme
more options for Irish SMEs and primary producers
The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD today (Thursday 14 January) announced the participation of Metamo Credit Unions and three non-bank lenders: Linked Finance, CapitalFlow and Finance Ireland, in the governmentâs â¬2 billion COVID-19 Credit Guarantee Scheme.
The Credit Guarantee Scheme is the biggest ever state-backed loan guarantee in Ireland. The Scheme offers an 80% Government guarantee to participating lenders to provide Irish businesses, including those in the farming and fishing sectors, with access to low interest loans as they respond to the impacts of COVID-19.
Tánaiste Welcomes Credit Union Participation in COVID-19 Credit Guarantee Scheme
The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar T.D. today (Thursday, 14th of January) announced the participation of Metamo Credit Unions and three non-bank lenders: Linked Finance, CapitalFlow and Finance Ireland, in the Government’s €2 billion COVID-19 Credit Guarantee Scheme.
The Credit Guarantee Scheme is the biggest ever state-backed loan guarantee in Ireland. The Scheme offers an 80% Government guarantee to participating lenders to provide Irish businesses, including those in the farming and fishing sectors, with access to low interest loans as they respond to the impacts of COVID-19.