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ISME says banks still not lending (RTE)

04 November 2011
Small business group ISME says it has carried out a survey which shows that banks are still restricting lending to its members.

ISME says the survey, which covered 400 firms, shows that 58% were refused credit by their banks in the last three months, up from 48% at the time of the last survey in February.

83% of companies said banks were making it more difficult for small firms to get access to finance. Just over half of the companies surveyed had been with their bank for 10 years or more.

ISME said the Government should stop 'pussy footing around' with the banks and force them to free up badly-needed credit.

Chief executive Mark Fielding said the survey's findings were at odds with public statements issued by the banks, and claimed that recent initiatives were 'nothing more than PR stunts'.