The Credit Guarantee (Amendment) Act, which allows businesses refused conventional bank credit facilities to access a state-backed guarantee, has been adopted. The Act extends the loan guarantee for these individuals from 75% to 80%, in an attempt to re-balance the risk between the State and extended service providers. Pursuant to this Act, the Government will be permitted to give counter-guarantees meaning the Strategic Banking Corporation of Ireland will be eligible to apply for matching EU guarantee facilities. There are also some changes to the definitions under the Act, with the term ‘lender’ now covering additional financial product providers such as lessors, invoice discounters and other non-bank financiers and with 'loan agreements’ now including non-credit products.