ISME: Banks not implementing European funds for SME lending

More than half of bank branches (57%) contacted by the Irish Small and Medium Enterprises Association (ISME) recently had no knowledge of European Investment Bank (EIB) funds for specific SME lending at reduced rates, it has been revealed today.

ISME also claims that almost three quarters of bank staff (74%) were ignorant of the new lending code for SMEs, introduced as a legal requirement by the Government in March.