Most SMEs have continued to access finance but new lending has declined.
As of June, 73 per cent of SMEs reported no change in access to finance, but 7 per cent of SMEs reported a decrease.16 In Q2 2020, new lending to Irish SMEs, at € million over the quarter, was 50 percent lower than the same quarter in 2019 and the lowest volume since Q3 2014.17 The outstanding stock of SME credit on the balance sheets of Irish banks was € billion at the end of Q2 2020, the lowest amount in the Central Bank’s statistical series.