Credit review sees SMEs get €1.77m

INTERVENTION by the Credit Review Office has resulted in €1.77 million in credit being made available to small firms who otherwise would have gone out of business.

This led to the preservation of 223 jobs since the office, led by John Treth-owan, was established over 12 months ago.

Of 76 cases brought before Mr Trethowan, he found in favour of 23 small firms, while 22 decisions by the two banks covered by the study, AIB and Bank of Ireland to refuse credit, were upheld.