16% of SMEs applied for bank finance, says report
Tanaiste and finance minister Simon Harris published the SME Credit Delivery Survey for 2025 on Thursday. Picture: Liam McBurney/PA
A report on SME credit delivery covering over 1,500 businesses in Ireland found that 76% made a profit in 2025, but almost one in 10 (8%) suffered a loss.
Tánaiste and finance minister Simon Harris published the SME Credit Delivery Survey for 2025 on Thursday. The survey conducted by Ipsos B&A on behalf of the Dept of Finance assesses SME credit demand in Ireland, giving a picture of the SME landscape in Ireland.
The report found that 16% of SMEs surveyed applied for bank finance during 2025, down from 20% in 2024. Of those seeking finance, more than one in three (38%) cited business expansion as the primary reason for applying. Some 7% of SMEs applied for government financial support or other non-bank finance, unchanged from 2024.
The average value of a credit application for new finance increased to €349,114 from €260,059 in 2024.
More than half of businesses surveyed (51%) reported increased turnover during 2025, up from 44% in the previous survey. A further 31% reported no change in turnover, while 18% reported a decrease, down from 20% in 2024.
76% of SMEs reported making a profit during 2025, with 8% reporting a loss, while 14% broke even.
“This year’s survey highlights the resilience of Ireland’s SMEs, with more businesses reporting higher turnover and profitability despite ongoing economic uncertainty," said Mr Harris.
“The findings also underline the importance of ensuring that viable businesses continue to have access to the finance they need to invest, innovate and grow.
"The survey provides valuable evidence on the financing conditions facing SMEs and helps inform Government policy to ensure that businesses across the country can continue to expand, create jobs and contribute to economic growth.”
The proportion of SMEs exporting increased to 21%, from 19% in the previous year. More than half of SMEs (56%) identified uncertainty as a barrier to investment.
Two-thirds (67%) of SMEs stated that they did not use artificial intelligence (AI) in the production of goods or provision of services during the period 2023–2025. However, three in 10 SMEs indicated that they plan to invest in AI over the next three years.
The Dept of Finance oversees two bodies that support SME access to finance: the Strategic Banking Corporation of Ireland (SBCI), which supports the supply of finance to Irish SMEs through banks, credit unions and non-bank lenders, and the Credit Review Service, which assists SMEs whose applications for bank lending have been declined.
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