BoI to extend support to new businesses
London (ask4loan) May 15, 2006: Bank of Ireland (BoI) will launch a new Business Development Loan to help start-up and early stage companies. The new fund will offer business loans of up to a maximum of Euro 25,000 with no security. These loans of up to Euro 25,000 would be available at 7.2 per cent and would be repayable over a term of up to 7 years.
However, the figure shows a different picture if compared to December last year. The number and value of loans approved for people buying properties was lower than December.
The number of loan approvals in December was 32% higher and its value was 47% higher. It is to be mentioned that nearly 45,000 loans are yet to get approval though they are already agreed.
On the other hand the number of people remortgaging was noticed to be going down when compared to December. But the number of people taking out equity release loan was up.
