Banks ‘cynically delaying’ loans

Banks are being accused by Isme of adopting “cynical delaying tactics” in the way the financial institutions are handling loan applications.

Isme, the Irish small and medium enterprises association, is furious after analysing its latest Quarterly Bank Watch Survey which shows a decline in lending to SMEs. The survey found the 53% of businesses are being refused loans, four points worse than the figure in September.

Isme chief executive, Mark Fielding, said the demand for bank credit is steady at 39%.