Set up in 2010 in response to the financial crisis, the Credit Review Office has a simple mission - to assist SMEs and Farms which are viable or potentially viable, to get access to the bank finance they need to grow and expand. It provides a simple, effective review process for Small and Medium Enterprises, including sole traders and farm enterprises, that have had requests for credit refused or reduced. Over 50% of banking decisions appealed to the office have been successfully overturned. It is a borrower driven process and relies on SMEs who feel that they have been wrongly declined credit to apply to the Credit Review Office for assistance.
The review process covers all applications for new loans, restructured or reduced credit facilities from €1,000 up to €3,000,000. Participating banks are AIB, BOI, ptsb and Ulster Bank.
The Office provides a helpline for businesses who are having difficulty accessing credit. It also monitors credit and banking conditions for small businesses and farms in the Irish market, reporting regularly to the Minister for Finance and highlighting issues and problems faced by Irish businesses seeking credit.
Lo-call 1890211789 for more info or request a call back from our website www.creditreview.ie