Credit application refusals dwindling

Banks are turning away fewer small and medium-sized businesses in search of credit than earlier in the year, according to a new report.

The latest Isme Quarterly Bank Watch survey, released today by the Irish Small and Medium Enterprises Association, shows a continued reduction in the number of loan refusals to SMEs; down from 42% to 38%.

The length of time taken to reach a decision on extending funds to businesses has increased in the three months to the end of November, however.