The Bank of Ireland launched a new low-rate loan system for small businesses in Ireland, covering amounts up to euro 65,000.
With a rate that the bank claims is almost 2 percent below competitors, the BoI claims that the new loan package will enhance opportunities for small business owners.
“Our small business loan represents exceptional value for small business customers. This is more efficient and transparent than any previous product offering, and it removes the need for customers to enter into ongoing rate negotiations with their bank,” the bank’s director of Business Banking, Liam Madden, said.
“Customers borrowing these amounts are busy business people looking for simple, straightforward lending facilities. With the Small Business Loan we have developed a cost-effective solution to meet this need.”