The Credit Review Office, established by the Department of Finance, now offers a simple and effective review process for small and medium-sized enterprises (SMEs), sole traders and farm enterprises that have been refused credit from banks participating in the NAMA scheme.
The Credit Review Office will accept applications from SMEs, sole traders and small and medium-sized farm enterprises that have had their application for credit refused or reduced or have had credit facilities withdrawn, and feel that the bank’s decision is unjustified. The Credit Review Office will, on application from the borrower, carry out an independent and impartial review of the bank’s decision.
The review process will review decisions to refuse, reduce or withdraw credit facilities (including applications for restructured credit facilities) from €1,000 up to €250,000.
The Credit Review Office review process will operate after the borrower has unsuccessfully appealed through the bank’s own internal appeals process. All participating banks are required to review their loan appeals policy and ensure that borrowers are made aware of their right to an internal appeal of an unfavourable lending decision.
For further information please contact:
Credit Review Office,
The Plaza,
East Point Business Park,
Dublin 3
Tel: 1850 211 789
