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Q4’20 Bank Watch Report

Report Date : Q4 2020

ISME’s latest Bank Watch Report finds loan acceptance rates drop while SME demand for credit rises.

The Bank Watch also found:

  • Demand for credit is at 29%, up 18% from Q3
  • Loan refusal rates increased from 29% to 37%, with 53% being successful, up 3% from Q3. However, only 10% were partially successful, compared to 21% in Q3
  • Just under 9% availed of peer-to-peer funding
  • 19% waited longer than 4 weeks between permission and draw down
  • 31% stated that the bank was not helpful in their request for acquiring finance
  • 56% of SMEs believe banks are making it more difficult for SMEs to access finance
  • 20% of SMEs pay over €5,000 in Bank Charges (excluding interest)
  • Read the full Bank Watch Report below or download here.