Credit where it's due: making a difference in SME sector
Published 23/05/2011 | 05:00
Bank of Ireland says it remains fully committed to a multi-billion euro loan strategy for small businesses as it kicks off its National Enterprise Week today.
The initiative, which involves events across the country with well-known business people from the SME sector taking part, aims to provide advice and support to participants.
Michael Lauhoff, head of small business and agri at Bank of Ireland (BoI), said the institution remained committed to backing the SME sector.
"We approved €3.66bn in new and increased lending facilities last year, with drawdowns of €2.38bn to the end of December 2010. In the first quarter of this year we have approved circa €781m in new and increased facilities with drawdowns of €472m," he said. The loan approval rate in the quarter was 83pc, he added.