SFA: There will be no direct benefit to small business lending

APATHY among Ireland’s small business community regarding the NAMA process remains in place despite the European Commission giving its stamp of approval.

On the back of fresh Central Bank data showing a further 4.3% fall in lending to business in January, the Small Firms Association (SFA) said yesterday that NAMA “will not deliver additional credit to small businesses” and backed up its claims by stating that currently a quarter of Irish SMEs are not receiving adequate amounts of credit.

SFA director Patricia Callan said that while NAMA should be viewed as a welcome development in terms of continuing efforts to stabilise the banking sector, “it will have no direct benefit to small business lending”.