Stock imageAlmost nine in ten SMEs were back trading by the start of June, but a survey by the Central Bank shows that some sectors – particularly food and accommodation – have burned through cash reserves and overdrafts. “Many SME revolving loans have zero to small undrawn balances indicating limited working capital credit buffers,” the report found. Despite this backdrop, the Central Bank said 72pc of firms responding to the survey have reported “no decline in access to finance”, while just 6pc reported increased difficulty. Credit balances among those hardest-hit firms “were almost fully utilised”, the Central Bank found. This “may pressure cash flow or amplify shocks upon company failure”, the Central Bank report said.

Source: Irish Independent July 21, 2020 12:33 UTC