Munster SMEs look beyond banks for finance as relationship banking comes to an end

With high street banks closing branches, SMEs are moving beyond traditional lenders to secure financing, writes Ciarán Sunderland

The Cobh branch of Bank of Ireland, closed after the recent announcement that more than 100 branches would shut across the country. File picture.

With speculation mounting over an easing of some Covid restrictions, SMEs are looking to the year ahead with cautious optimism.

However, uncertainty over future restrictions will inform any decisions made by a business in the next few months — that includes financing, an area that has assumed even more significance when trading during multiple shutdowns.