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Report shows nearly €10 million overturned in business loan refusals

The Credit Review Office (CRO) says it has helped in supporting more than 850 jobs over the last ...
Newstalk
Newstalk

10.12 8 Oct 2012


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Report shows nearly €10 millio...

Report shows nearly €10 million overturned in business loan refusals

Newstalk
Newstalk

10.12 8 Oct 2012


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The Credit Review Office (CRO) says it has helped in supporting more than 850 jobs over the last 2 years.

Since it was established in April 2010 the Office has overturned almost €10 million in loan refusals for small and medium enterprises and farmers.

Its latest quarterly report shows that as a result 813 full-time positions and 46 part-time jobs have been created.

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Some business lobby groups including ISME and the SFA have been critical of the scale of work carried out by the CRO.

The CRO says it is vital that small and medium enterprises and farmers do not feel dissuaded from applying over fears they will be refused funding.

The pillar Irish banks of AIB and Bank of Ireland have been set targets by the government to lend at least €3.5 billion each year to the SME sector.

The Credit Reviewer John Trethowan is publishing the report today.

He says despite slow progress at the start of 2012 he believes the levels will be achieved.

Read the full report href="http://www.creditreview.ie/docs/NinthQuarterlyReport%20fromJohnTrethowan.pdf">here

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