Bank Credit Refusals Overturned

The Credit Review Office received 44 applications from SME’s who have been refused credit by the two pillar banks AIB and Bank of Ireland between March and May of this year. The figures were revealed in a quarterly review of the Credit Review Office by John Trethowan. Trethowan said that while work was still ongoing on a number of cases that of all the cases completed during the three month period, 17 bank refusals were overturned, resulting in the banks supplying €2 million of credit. Since the Office’s establishment in April 2010, 35 per cent of all refusals have been overturned. Any business that has been turned down for a loan application should contact the Credit Review Office at info@creditreview.ie