The Strategic Banking Corporation of Ireland said it had lent €45m from March to June, with loans to the agriculture sector making up nearly a third of all loans.
The SBCI was established to provide additional financial support to small businesses and has been lending money since mid-March.
To date its average loan size has been €27,500.
More than 1,600 loans were drawn in the period with 1,478 for business investment, six for the refinancing of existing banks loans, and 142 for working capital.
Geographically, 19% of the loans went to businesses in the south-west, 15% to both Dublin and the west, and 13% to the mid-west.
The bank lends money through AIB and Bank of Ireland.
It has €800m to lend by the end of 2016 and the biggest loan it can give is €5m.
Its fund includes €250m from the former National Pension Reserve Fund, as well as money from the European Investment Bank and German national development bank KfW.
