Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

I agree that access to finance is vital to the growth of the economy, but it is worth observing that the reported refusal rate of banks has more than halved, down from 30% to 14%. Applicants appeal decisions to the Credit Review Office, CRO. Between the CRO and the banks, 70% of decisions are being overturned where applicants challenge them. That is important for applicants.

Between all the non-banking facilities, we have more than €3 billion available for SMEs. There is a suite of options alternative to the banks and we keep developing those. The Strategic Banking Corporation of Ireland is a new entity this year. I hope it will bring in new entrants but also that it will make new types of product available to SMEs to meet the needs of the growing companies about which the Deputy is concerned. We are acutely aware that this a priority, and we will bring forward further proposals.

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