Establishment of the Credit Review Service to Support Access to Finance for SMEs

The Tánaiste and Minister for Finance, Simon Harris, T.D., welcomes the establishment today of An tSeirbhís um Athbhreithniú Creidmheasa (the Credit Review Service), an independent body designed to assist small and medium-sized enterprises (SMEs), including

farm enterprises, who have been refused credit or have had existing facilities reduced or withdrawn by a bank.

The Credit Review Service was established to provide an impartial and transparent review process for credit decisions made by banks. Where an application for credit of up to €3 million has been declined—or an existing facility reduced—the borrower can apply to the Service for an independent review.

The work the predecessor body, the Credit Review Office, has done since it was established in 2010 has given valuable assistance to viable SME and farm businesses in obtaining bank credit. Placing that office on a firm statutory basis recognises the value of that work and endorses the Credit Review Service as a permanent feature of the SME credit landscape in Ireland.

The establishment of the Credit Review Service reflects the Government’s commitment to restoring confidence in the banking sector and supporting economic recovery and growth. By providing a transparent appeals mechanism, the Service aims to:

• improve trust between SMEs and financial institutions
• ensure viable businesses are not unfairly denied credit
• encourage consistency in credit assessment practices
• promote economic activity and job creation.

The Tánaiste and Minister for Finance, Simon Harris said:

“The establishment of the Credit Review Service is an important step in ensuring that viable businesses receive fair consideration from lenders. SMEs are the backbone of our economy, and access to credit is essential for their growth and sustainability. The Credit Review Service provides a vital safeguard, ensuring transparency, accountability, and fairness in lending.”

The Minister of State, Robert Troy said:

“Since its establishment in 2010, the Credit Review Office has given valuable assistance to SMEs and farm businesses in obtaining bank credit. I am very pleased to see the office has now been placed on a statutory basis, recognising the valuable role it has played to businesses around the country. The establishment today of the Credit Review Service is a further commitment in ensuring that SMEs and farm businesses can access credit fairly and supports ongoing economic growth.”

Catherine Collins, the Credit Reviewer, said:

“Our role is to provide an independent, expert review of credit decisions and to ensure that businesses are treated fairly. We are committed to supporting constructive outcomes that enable viable businesses to access the funding they need.”

How to Apply

Eligible borrowers can submit an application to the Credit Review Service by providing details of their original credit application, the lender’s decision, and supporting financial information. The borrower should have first exhausted any internal appeals process provided by the lender. Further details, including eligibility criteria and application procedures, are available at https://www.creditreview.ie/.

Background

The role of the Credit Reviewer was established in 2010 by the then Minister for Finance to assist viable SMEs and farm businesses in obtaining access to credit from Irish banks. The Credit Review Act establishes An tSeirbhís um Athbhreithniú Creidmheasa (the Credit Review Service) as an independent statutory body offering an informal appeals mechanism for SMEs and farmers denied bank credit.

The Credit Review Service’s key function is to examine credit decisions for SME or farm borrowers who have had an application for credit of between €1,000 and €3 million declined or reduced by banks, and who feel that they have a viable business proposition and who apply to the Service for a review. While the Service cannot instruct a participating institution to provide credit, most of the cases Credit Review has supported were approved credit.

In addition, Credit Review has monitored lending and provides market information to the Minister for Finance, and it observes lending behaviour and credit risk appetite by each bank, through its work on borrowers’ appeals. Credit Review liaises with other government departments, state bodies, and trade bodies in identifying and proposing remedies for market failures in the SME/farm banking landscape and publishes a regular market commentary report.

Credit Review Activity

From its inception in April 2010 to end December 2025, Credit Review has received 1,469 applications, with 1,232 proceeding to formal review. Of these, 1,038 completed the review process and Credit Review has upheld the appeals in favour of 608 applicants. Credit Review supported 59% of those businesses and farms that completed an appeal. As a result, banks have agreed to provide credit of €86.35m to SMEs and farmers, helping to create/protect an estimated 5,200 jobs in these enterprises.