The Mullingar Chamber recently met with the Minister of State for Enterprise Trade and Employment, Billy Kelleher to discuss access to bank credit for businesses. With the closure of many local businesses in recent months it is clear that is a critical issue, which is affecting the ability of business owners to keep their staff employed, and their doors open.
The Mullingar Chamber represented by the President Paul O’Brennan and Pat Davitt along with various stakeholders such as Failte Ireland, SFA, IFA, Banks, Enterprise Ireland, and IDA Ireland took part in the two-hour long discussion with the Minister highlighting a sample of problems faced by many in business. It is clear that businesses are being faced with overdrafts being cut or refused, loans being called in, additional bank charges, the requirement for additional security on loans and an increase in deposits required for businesses who wish to start up. Questions were also raised on what is a viable business at the present time.
The Mullingar Chamber now has a direct line of contact with the Credit Supply Clearing Group in the Department of Enterprise Trade and Employment to identify particular types of problems that are arising with banks. Anyone that has particular problems should contact the chamber so they can keep the Department fully aware of the difficulties that local businesses are facing in gaining access to credit.
For more information call Mullingar Chamber on (044 ) 9344044.