Search Results for 'Credit Review Office'

SMEs in Mayo stand to benefit significantly from a new State backed bank that will make it easier and cheaper for businesses to access credit.

A series of seminars aimed at helping small businesses to access finance will begin next month.

Against the background of tough budgets in recent years, Ministers Noonan and Howlin framed their speeches in the context of preparing the country to exit the EU/IMF recovery programme and the creation of jobs in a range of sectors. Set out below is an outline of the main measures announced. More detail will be included in the Finance Bill which is to be published next month.

There has been mixed reaction locally to Budget 2013, which has delivered €3.5bn worth of cuts and taxes which will have an impact right across the board.

Fine Gael Leader Enda Kenny has welcomed the establishment of the Credit Review Office to aid small and medium enterprises such as farmers and retailers. Businesses that have had their loan requests refused, credit refused, or credit facilities withdrawn can make an application to the Credit Review Office which will undertake an impartial review of applications. However, this is dependent on the applicant having previously gone through the financial institutions’ own internal appeals process.

Kilkenny Fianna Fail TD John McGuinness has welcomed the establishment of the Credit Review Office, an independent dedicated centre to ensure that the credit system is operating effectively for small and medium-size businesses. SMEs are businesses with fewer than 250 employees, turnover of less than €50m, and/or a balance sheet value of less than €43m.