Wednesday 26th May 2021 – Banking & Payments Federation Ireland (BPFI) has today launched an information guide and new webinar for SMEs focusing on banking supports and advice for businesses as they begin the road to recovery in a post-COVID environment. These new resources are available to access on BPFI’s website here as well as on the websites of lenders, the Strategic Banking Corporation of Ireland (SBCI) and various SME representative bodies.
Speaking about these new supports and the journey ahead for SMEs, Marian McCarville, Head of Business Banking & Taxation, BPFI said: “SMEs have been severely impacted by the COVID-19 pandemic having had to cope with partial or complete lockdowns of their businesses over three prolonged periods of public health restrictions. The Government has played a critical role in providing much needed supports, all of which have been instrumental in helping SMEs through the pandemic and keeping them connected with their employees. However, as the vaccine programme rolls out and businesses begin to reopen, these supports can be expected to taper off.”
“SMEs now need to be planning, not just for the re-emergence from the pandemic, but crucially, they need to be planning for the long-term competitiveness and growth of their business. This will require financial investment and BPFI members are committed to supporting viable businesses by providing the necessary access to finance.”
“The guide we have published today in addition to the SME webinar we have produced, with the support of our member banks and SBCI, provides information on the range of banking supports available to SMEs, both through the recovery, and beyond into the future.”
“SMEs have proven themselves to be resilient, adapting rapidly and imaginatively to a level of disruption that no business could have ever foreseen. This augers well for the re-emergence of SMEs and the reshaping and rebuilding of businesses for the future”, Ms McCarville concluded.
The new guide SME Banking Supports – through COVID Recovery and Beyond is available here and provides useful information and support for dealing with existing credit facilities, applying for new credit facilities, the credit application process and the range of other non-bank financial supports available. The webinar, which can be found here, features presentations from a range of panellists from BPFI’s retail member banks as well as the SBCI offering useful and practical financial advice to SMEs.
ENDS/
Note: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland. Together with its affiliates, the Federation of International Banks in Ireland, and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.
Contact: Jillian Heffernan, Head of Communications, 087 9016880 or jillian.heffernan@bpfi.ie
