17% of SMEs applied for bank credit - survey

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17% of SMEs applied for bank credit - survey
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According to the Credit Demand Survey, 17% of SMEs applied for bank credit between April and September, 2022

According to the Credit Demand Survey, the average Irish SME had outstanding debt of just over €427,000, up from €400,000 on the same period in 2021.

During the six months, 65% of SMEs reported profit compared to 57% in 2021. In 2022, 12% reported a loss while 22% broke even. Overall 40% of SMEs have no debt, with construction and business services having the lowest level of debt.

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