Feargal Quinn (Independent) | Oireachtas source

Mr. Bernard Byrne said there is a perception that refusal of credit for SMEs is much higher than is actually the case.

Mr. Byrne stated there is a 92% approval rate. Is that 92% of those who apply? If so, what percentage is drawn down, particularly by SMEs? As one of the owners of the bank, I want it to be profitable and to do well.

I was involved for four years helping a number of retailers around the country and the vast majority of them said there was no point in them going to the bank for credit because they would be turned down. However, when we helped them and they approached the banks, they got what they wanted on most occasions, although we do not hear that. What is the main error SMEs make when they apply for credit which leads to them being turned them? What advice can Mr. Byrne give them about what they should do the next time they apply for loan? Are they making basic errors?