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Fine Gael Councillor Noreen Heston has urged small local businesses that have been refused credit by the banks to apply to the Government’s new Microfinance Scheme. The €90 million scheme has been available to businesses since the beginning of October. “This new scheme will be of huge benefit to small businesses in Mayo which have been refused traditional sources of finance. Any business or sole trader employing up to 10 people who have been refused by the banks for loans of up to €25,000 can apply. Over the 10-year lifetime of the scheme it is expected that over €90 million will be provided to 5,500 small businesses with the creation of up to 7,700 jobs,” Councillor Heston explained.

The Minister for Jobs, Enterprise and Innovation, Richard Bruton, has announced reductions of between 33 and 80 per cent to five fees on cooperatives societies imposed by the Registrar of Friendly Societies.

Elected representatives across the political divide in Mayo have been clamouring to welcome the microfinance fund of €90 million which was announced last week. According to the politicians the fund is good for business.

The crowd witnessed the first signs that things maybe starting to recover in the property market when O’Donnellan & Joyce’s monthly auction was packed to capacity with a large number of investors and owner occupiers bidding on the 14 properties which were sold under the hammer. The belief within the 400 capacity crowd was that now is the time to re-enter the market with properties now starting to give an excellent return at a very low cost base.

Property Partners Maxwell Heaslip & Leonard had another successful auction in the Imperial Hotel, Eyre Square, on Friday September 14.

The Summit Seekers - Galway women Laura Rigney, Sinead Coughlan, and Sarah O’Toole - who are climbing Kilimanjaro in October for charity, are holding another fundraising drive.

Within the next few days O’Donnellan & Joyce will finalise its list for its September 28 property auction.

The biggest auction of the year took place on Friday July 20 with O’Donnellan & Joyce placing 25 properties up for sale and successfully selling 23; the remaining two being are the subject of active negotiation.

The O’Donnellan and Joyce auction was packed to capacity once again when the company placed 18 properties under the hammer last Friday. The majority of the properties were family homes in established locations throughout Galway city.

O’Donnellan & Joyce recorded seven sales when it placed nine properties under the hammer at last Friday’s auction. Colm O’Donnellan of auctioneers O’Donnellan & Joyce said they were delighted with the prices achieved and the tremendous response and bidding in the room. He said auctions are proving to be the best method of obtaining a sale on properties, and all the properties on offer had very realistic reserve prices, and the market decides the true value.