Monday 24 October 2016

Increase in SME bank loan refusal rate

Published 07/09/2015 | 02:30

The number of firms refused bank loans over the last three months rose compared with the previous quarter.

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A survey shows that 45pc of businesses were turned down in the second quarter, compared with 33pc in the previous quarter, according to the Irish Small and Medium Enterprises Association (Isme).

Isme chief executive Mark Fielding (left) said he hopes the results are a blip.

"It is difficult to discern a reason for this slow-down as the Strategic Banking Corporation of Ireland (SBCI) has been active in the market since March and demand for bank credit is steady," Mr Fielding said.

Irish Independent

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