4 Jan 2011

‘Your Business, Your Bank’ guide launched

A new 17-page guide designed to help small businesses develop better relationships with banks and access credit has been launched.

‘Your Business, Your Bank’  was prepared by the Credit Supply Clearing Group and offers advice for businesses, focusing on relationship-building, ensuring confidence and accessing credit.

Enterprise Minister Batt O’Keeffe welcomed the launch and said…

The guide outlines various funding options open to businesses, provides an insight into what banks are looking for when examining credit applications, imparts information on credit pricing, and reveals practical tips on how to package credit applications

The guide takes into account the significant changes in the economic climate and credit requirements.

Minister O’Keeffe continued…

Before 2008, most credit applications were for loans for new capital investments but the severe economic downturn has brought about a dramatic shift in that trend.

This guide is timely in setting out the funding options for small businesses, outlining how they can access the kind of credit they need, and drawing together multiple stakeholders across Government and the enterprise community towards the common cause of recovery in the domestic economy,

The Credit Supply Clearing Group was setup by the Government in May last year.

The guide will compliment a new standard credit application form created by the Credit Review Office, designed to provide banks with all the information required to assess an credit application.

The following link is to a PDF file   The full guide can be viewed here 200kb pdf

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