‘Stop delays in SME credit’

The pillar banks are failing in their duty to promote funds being made available via the State’s new SME bank as an alternative source of credit to small firms, lobby group Isme has claimed.

The representative body has urged a monitoring of the two main banks and for them to be instructed to promote funds available via the Strategic Banking Corporation of Ireland.

The SME bank has €800m available for lending to small businesses, via Bank of Ireland and AIB, with Finance Minister Michael Noonan recently claiming that figure will increase.