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what are the banks like now?

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  • 25-05-2010 8:25pm
    #1
    whelan1
    Closed Accounts Posts: 11,786 ✭✭✭✭


    have they softened any at all , will they actually give out loans:eek:


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    #2
    roosterman71
    Registered Users Posts: 5,452 ✭✭✭roosterman71


    If they think you can repay it then you'll be grand. Alot depends on how the bank is feeling on the day, the moon alignment and the wind direction though :D


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    #3
    whelan1
    Closed Accounts Posts: 11,786 ✭✭✭✭whelan1


    they told me a few months ago to come back in 3 months:eek:


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    #4
    roosterman71
    Registered Users Posts: 5,452 ✭✭✭roosterman71


    Unfortunately things haven't improved in the last 3 months. Just look how the share price has fallen in the last few weeks.

    Although, as part of the government cash injections, they are supposed to free up funds for SMEs. AIB announced a €500 million fund today. But they will make you jump through hoops to get any of it


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    #5
    whelan1
    Closed Accounts Posts: 11,786 ✭✭✭✭whelan1


    i with ulster bank


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    #6
    roosterman71
    Registered Users Posts: 5,452 ✭✭✭roosterman71


    Don't mind what bank your with. Try them all to get what you want at the best deal. Banks have zero loyalty to their customers, so you shouldn't feel obliged to do business with any bank in particular.


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    #7
    red bull
    Registered Users Posts: 1,372 ✭✭✭red bull


    Got on ok with ACC, was put through the hoops, not impressed with their interest rate but got loan sanctioned


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    #8
    Tipp Man
    Closed Accounts Posts: 4,025 ✭✭✭Tipp Man


    I'm not sure what all the big deal is about with the banks lending money to businesses, if you have an efficient and well run business then from what i can see the banks are willing to do business and from our point of view we have had no problems whatsoever with accessing funds (although the deal fell through due to the seller)

    Its a bit of a catch 22 at the moment for the banks from what i can see. In such a deep recession you would normally expect them to tighten their belts, especially with regard to lending to small business which can be risky especially in the current times, however due to their property lending mess up they are under public pressure to lend to small businesses, so to be a bit riskier than they would normally be, which is exactly what got them into the mess in the first place

    Slightly ironic

    I wonder if the banks hadn't of got themselves into such a mess and still had all of the power would they be lending much more than they currently are?


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    #9
    djmc
    Registered Users Posts: 1,611 ✭✭✭djmc


    Most dairy farms would have made a loss last year with the milk price farmers were spilling milk around the world in protest.
    Any farmers with loan repayments strugled to meet them.
    Price has recovered this year but it will be late in the year before this comes through as payment comes a month after supply and creditors are waiting for payments.
    The banks have the deeds of most farms which would be well over the the value of money owed but still seem unwilling to lend small money to tie them over for a few months.
    Its like one bad year and they are closed for buissness.


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