Coonan urges Tipperary SMEs to Comment on Workings of the Credit Review Office

December 3rd, 2012 by noelcoonan

Noel Coonan TD is calling on Tipperary business people to submit their suggestions on what the Credit Review Office can do to ensure Small and Medium Enterprises (SMEs) are getting the support on bank lending they require.

“My Fine Gael colleague and Minister for Finance Michael Noonan has invited members of the public to help further enhance the work of the CRO in ensuring SMEs are getting the support on bank lending they require,” said Deputy Coonan.

“The Credit Review Office  is contributing to ensure that credit is not refused to viable businesses with valid credit propositions and is going a long way to assisting the Minister of Finance in facilitating the availability of credit,” explained Noel.

The Action Plan for Jobs 2012 contains a commitment to assess the Credit Review Office to ensure SMEs are getting the support on bank lending they require. Following a tender process, Grant Thornton won the contract to carry out the assessment and produced a report containing a number of valuable recommendations.

“Suggestions could be put forward in relation to how the CRO process works from the viewpoint of the borrower, what changes should be made to it and what more could be done to increase the number of reviews,” explained Deputy Coonan.

“Submissions can also include your viewpoint on whether the CRO does all the things that it should to assist the flow of credit to SMEs. Should its remit be expanded and extra powers be granted, and into what areas? Where should the CRO be positioned in the overall structure of State advice and assistance to SMEs?

“Minister Noonan has opened up the process to members of the public who feel they have suggestions which could further enhance the work of the CRO in ensuring Tipperary SMEs are getting the support on bank lending they require,” continued the local TD.

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