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Q1’21 Bank Watch Report

ISME’s latest Bank Watch Report finds SME demand for credit continues to rise, while loan refusal rates remain steady and similar to Q4’20.

The Bank Watch also found:

  • Demand for credit is at 43%, up 14% from Q4’20.
  • Loan refusal rates decreased slightly from 37% to 35%, with 46% being successful, down 7% from Q4. 19% were partially successful, compared to 10% in Q4.
  • Just under 6% availed of peer-to-peer funding.
  • 19% waited longer than 4 weeks between permission and drawdown.
  • 51% stated that the bank was not helpful in their request for acquiring finance.
  • 71% of SMEs believe banks are making it more difficult for SMEs to access finance.
  • 13% of SMEs pay over €5,000 in Bank Charges (excluding interest).
  • Read the full Bank Watch Report below or download here.