BoI seeks to increase lending to SMEs

But businesses must understand that banks today need more financial information, BoI tells Samantha McCaughren, Business Correspondent

2nd October, 2010

Business borrowers have felt under pressure over the past couple of years as banks began to take a much tougher look at credit facilities and lending agreements.

Despite the continuing bad news coming from the banking sector, Michael Lauhoff, Bank of Ireland’s new head of small business and agriculture, said he wanted to encourage lending and help customers to survive the recession.

Bank of Ireland is already committed to lending €3billion to SMEs...

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