Permanent TSB signs up with Credit Review Office

Permanent TSB has joined the Credit Review Office on a voluntary basis.

The organisation was established to provide an independent appeals process for small and medium sized businesses. It deals with credit applications up to €3 million and will review applications by borrowers with a viable buisness plan who have been refused credit or had it withdrawn. Borrowers must first go through the financial instititions’ appeals processes.

Permanent TSB entered the SME market in December. Head of SME banking Killian O’Flynn said the bank had experienced steady growth in lending applications from small business owners across the country. He said joining the Credit Review Office indicated Permanent TSB’s commitment to providing a professional lending service.

The decision was welcomed by head of the Credit Review Office John Trethowan.