The SME Credit and Lending Section is tasked with ensuring that viable Small and Medium Enterprises (SMEs) can access finance from a wide variety of sources, including bank and non-bank sources.
The government recognises that SMEs are the lifeblood of the economy and play a vital role in the recovery of employment growth in the country.
The section also works closely with the Credit Review Office as an appeals body for SMEs refused credit by banks. The section also monitors the lending to SMEs by AIB and Bank of Ireland.
While the economic recovery has led to an improvement in overall credit availability for Irish business, the issue of access to appropriate forms of finance remains a concern for many Irish SMEs.
All viable businesses, including SMEs operating in Ireland should have the opportunity to access sufficient finance to meet their enterprise needs.
There has been a number of government supports developed to ensure that the supply of credit in the market is sufficient to meet the existing and future needs of SMEs.
The Department of Finance conducts a biannual Credit Demand Survey to monitor the credit demand and financing needs of SMEs.