Credit where it’s due

16th June 2022 | News

Credit Review outlines the current challenges for Irish businesses seeking bank credit – and provides a helpline and appeals process for those facing such challenges.

Credit Review was set up in 2010 by the Minister for Finance and provides an independent appeals process for SMEs, sole traders and farmers who have had bank credit facilities refused, reduced or withdrawn, or who need to restructure debt. It also operates a helpline for business borrowers who are having difficulty getting credit. Credit Review sees at first hand the issues faced by SMEs and farm businesses seeking bank credit to grow and develop their businesses.


While 2022 started positively for Irish SME’s following the lifting of Covid restrictions, the war in Ukraine has set back recovery and a number of significant challenges remain for businesses:

  • Materials and Labour shortages together with higher energy costs will impact on costs of doing business
  • Rising costs for consumers, especially of energy and food, may dampen domestic demand
  • The impact of Brexit on individual farms and businesses is still ongoing
  • Legacy debt from Covid impacts will need to be addressed, and businesses hardest hit by lockdowns will need to rebuild their cash reserves/source additional working capital
  • Businesses may need to restructure bank debts
  • Exit of Ulster Bank and KBC from the market mean many SME’s will need to find a new bank, and may not automatically get the same level of credit as they had previously

All of which mean that SME’s may require additional bank finance, or need to restructure their existing debt, to make repayments more manageable in the current business environment.

So how can Credit Review help your business?

If your business is experiencing any of the following, contact Credit Review:

  • credit facilities refused, reduced or withdrawn
  • need to restructure existing debt
  • difficulty getting credit or loan facilities of up to €3 million
  • has had an unfavourable change to existing credit terms and conditions

The process is independent, easy to complete and covers applications for new loans or restructured credit facilities from participating banks (AIB, Bank of Ireland, PTSB and Ulster Bank).

For more information on our independent appeals process visit our website at , contact us by email at, by telephone on 0818 211 789, or follow us on our social media channels, LinkedIn and Twitter.