Central Bank study sparks call on SME loans

Central Bank research throwing new light on the high-interest rates banks charge SMEs across the eurozone has led to a call for the Government to do more to help small firms access cheaper credit here.

Neil McDonnell, chief executive at business group Isme, said that, with Irish SMEs facing the fallout of Brexit, the pressure of expensive credit was “making a bad situation worse”.

Surveys have consistently shown the rates paid by Irish SMEs for their loans were the highest in the eurozone. They are higher than those paid by Italian SMEs which have weaker banks than here.