Thursday 23 February 2017

Irish SMEs pay double the Eurozone rate for credit

Gavin McLoughlin

Gavin McLoughlin

The cost of credit rose last year for Irish businesses
The cost of credit rose last year for Irish businesses

Irish small and medium businesses are paying more than twice the average rate for credit in the Eurozone, according to a report.

The Irish Examiner reported that ECB data shows the average rate on SME loans of €250,000 or less is 6.56pc - more than one percentage point greater than in the next most expensive country.

French SMEs have the cheapest average rate at 2.28pc.

Ireland was one of three countries to see the cost of credit rise in the last year.

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