Small firms access to credit hit by Ulster Bank departure

Credit Review annual report said alternative lenders would struggle to make up for the services provided by full-service lenders such as Ulster Bank, while credit unions will struggle to providing SME loans 'in the short term'

Report has said 'upheaval' at the exits of Ulster Bank and KBC banks will likely hinder small firms.

Credit Review, the body set up at the depth of the financial crisis 13 years ago to help companies access credit and survive, has said the "upheaval" at the exits of Ulster Bank and KBC banks will likely hinder small firms. 

In its annual report, the organisation said alternative lenders would struggle to make up for the services provided by full-service lenders such as Ulster Bank, while credit unions will struggle to providing SME loans "in the short term".