- Demand for credit is at 43%, increasing 10% from Q3’21.
- Loan refusal rates decreased from 37% to 33%, with 52% being successful, up 11% on Q3’21. 14% were partially successful, compared to 22% in Q3’21.
- 4% have availed of peer-to-peer funding.
- 54% waited longer than 4 weeks from permission to drawdown.
- 57% stated that the bank was not helpful in their request for acquiring finance.
- 68% of SMEs believe banks are making it more difficult for SMEs to access finance.
- 22% of SMEs pay over €5,000 in Bank Charges (excluding interest).
