Over €500m in credit for Irish SMEs went untapped during third quarter

More than half a billion euro in credit was available to small and medium Irish businesses that went untapped in the third quarter due to firms failing to take advantage of invoice finance.

Third-quarter figures from the Asset Based Finance Association (ABFA) revealed a total of €530m in unused credit that is readily available to SME’s through invoice financing.

Invoice finance allows companies to raise money by converting trade debts into cash.