Banks reject 50% of SME loan bids: poll

Banks are rejecting one in every two SME loan applications, according to a survey conducted by the small business lobby group Isme.

Some 96% of respondents believe the Government is having a negative or no effect on lending conditions for the SME sector.

One of the biggest brakes on economic growth is the parlous state of the domestic economy. A sufficient level of credit flowing into the SME sector is seen as a necessity to get the domestic economy moving again.