Small Firms In Wexford Are Being Refused Bank Loans

SMALL FIRMS IN WEXFORD ARE BEING REFUSED BANK LOANS

There’s been an increase in the number of small businesses in County Wexford being refused a loan by their bank.

A new survey by the Irish Small and Medium Enterprises Association shows more than half of all firms nationwide couldn’t get funding at the end of last year.

Almost two thirds also reported a hike in bank charges.

At the same time the figures reveal more SMEs are looking for loans than before, with numbers applying up from 37 to 39 per cent.

Chief Executive of ISME, Mark Fielding says the Government needs to re-introduce rules to force banks to lend to small businesses.

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