Credit crisis worsening for SMEs, claim 95% of poll respondents
More than 87% of respondents to an industry survey, conducted by the Institute of Certified Public Accountants in Ireland (CPA), said that they currently believe the banks aren’t interested in lending; while more than 95% said they believe that SMEs have no access to affordable credit. Two-thirds of all respondents said they had noted a rise in the level of loan facilities being reduced or removed by the banks.
Nearly 60% of accountancy firms has seen evidence of viable businesses encountering trading difficulties due to a lack of bank credit.
