58% of small firms refused credit

WELL over half of small firms surveyed said they have been refused credit from their bank in the last three months.

This is despite claims in a recent Credit Review Office report that a lack of demand for loans means AIB and Bank of Ireland will be unlikely to meet their lending targets to small firms this year.

Small business group ISME claimed yesterday that the banks are lying when they say there isn’t a demand for credit from small firms.