| On 13th March 2009, the Financial Regulator’s Code of Conduct for Business Lending to Small and Medium Enterprises came into effect. This Code applies to certain business products provided by National Irish Bank to Small and Medium Enterprises (SMEs). The Code’s objectives are:
- to facilitate access to credit for sustainable and productive business propositions,
- to promote fairness and transparency in the treatment of SMEs, and
- to ensure that when dealing with arrears cases the aim is to assist borrowers to meet their obligations, or otherwise deal with the situation in an orderly and appropriate manner.
National Irish Bank welcomes the Code and is committed to ensuring its business lending is compliant with the Code. To help you to understand the Code as it applies to our business lending to SMEs, we have produced an explanatory booklet The Code of Conduct for Business Lending to Small and Medium Enterprises.
We would encourage you to read this brochure carefully if you are an existing or prospective business borrower. If you are an existing or prospective personal guarantor, we would draw your attention in particular to Section 6 of the brochure which covers guarantees.
If you require further information on the Code please contact your local National Irish Bank branch or your usual contact at National Irish Bank. Alternatively, a copy of the Code can be downloaded from www.financialregulator.ie | | |