Bank of Ireland launches new credit line to help stimulate demand for lending

Bank of Ireland has launched a new dedicated credit line in an effort to help drive demand for credit by customers and non-Bank customers who may be considering applying for finance for business purposes or for buying a home.

Callers to the new 1890 354 454 number will be directed to a team of experienced credit advisers and will be provided with advice and support to help them through the application process.

According to Michael Lauhoff, Head of Small Business & Agriculture, Bank of Ireland Business Banking:  “ We have introduced this credit line to increase access levels to finance for SMEs, farmers and home owners and to try to stimulate demand for lending.  Our credit advisers will be able to steer SMEs requiring credit through the application process, when back-up information is required and outline the supports available from Bank of Ireland to help them.  We encourage anyone looking for credit to pick up the phone and talk to a member of our team.

“We receive an average of 1,000 credit applications on a weekly basis for business finance and approval rates have remained constant at over 80%.  However, we are seeking to increase these numbers and remain committed to lending €3.5bn to SMEs this year in line with our commitment to Government”, concluded Michael Lauhoff.

This initiative is a further addition to the tools, guides and calculators that are already available online at www.bankofireland.com and the significant level of expertise available throughout the Bank’s branch network.  The credit line will be available for the duration of the Bank’s current advertising campaign which runs until mid-August.

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