Chambers are liking the Credit Review Office
Chambers Ireland has welcomed the 7th report of the Credit Review Office (CRO) noting its success in overturning a significant number of lending rejections referred to it and called on more businesses to avail of the process.
Speaking this morning Seán Murphy, Chambers Ireland Deputy Chief Executive said, “the fact that the CRO has successfully overturned decisions to reject loans by banks proves that it is working well and using its powers appropriately. Now that the Pillar banking system has been recapitalized, we would encourage businesses to proactively make loan applications and follow the process now in place.”
“The report also underlines the need for urgency on the delivery of the much promised Partial Loan Guarantee Scheme which when available may help a discrete number of businesses that would otherwise struggle to get a loan approved.”
“The Credit Review Office is doing an excellent job and we encourage any business that is unhappy with a lending decision to seek their advice. Chambers will continue to profile the work of the CRO with our network and our members,” Murphy concluded.
