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Q4 2019: Bank Watch Report

Report Date : Q4 2019

Quarterly Bank Watch Report Q4’19

28th February 2020

  • SME demand for credit is at 24%.
  • Loan refusal rates decrease from 58% to 19%, with 44% being partially successful.
  • 17% waiting longer than 4 weeks from permission to drawdown.
  • 69% stated that banks are making it more difficult to access finance.
  • Businesses wait on average two weeks from decision to drawdown.
  • 3% of SMEs pay between €5000-10000 in Bank Charges (excluding interest).

ISME, the Irish SME Association, today (28th February) released its quarterly Bank Watch survey for Q4’19. The results show a decrease in loan refusal rates, decreasing from 58% to 19%, although 44% of respondents reported being only partially successful with their request. Demand for credit remains high at 24%. Waiting time from decision to drawdown is on average two weeks.