Banking Survey Findings are a Concern says Finance Committee

Banks need to ease the pressure on local businesses and help them access both support schemes and credit. That’s the message from the Northern Ireland Assembly’s Finance and Personnel Committee as it responds to the recent Institute of Directors Bank Lending Survey.

Committee Chairperson, Jennifer McCann, MLA said: “The Committee welcomes the continued analysis of these issues by the Institute of Directors. While there are some indications that the situation is improving for local businesses, it is deeply concerning that difficulties in accessing loans or overdraft facilities from banks are still being reported, particularly in terms of additional bureaucracy.

“We are also disappointed at the lack of uptake of the different support schemes that have been made available to small businesses, and this is an issue which members have raised with local banks on a number of occasions. Banks should be actively playing their part in alleviating demands on the business community rather than adding to existing pressures. My Committee intends to continue to pursue this important matter.”

The survey received more than 220 responses from local businesses which presented their experiences of borrowing during the period from April to August this year.