Information and advice for Small and Medium Enterprises (SMEs)

Information and advice for Small and Medium Enterprises (SMEs)

The Central Bank of Ireland “SME Regulations" sets out conduct of business rules for regulated firms providing credit to SMEs.


In summary, the rules cover:

  • Processing applications
  • Advertising of credit
  • Complaints handling
  • Dealing with guarantors
  • Annual reviews
  • Dealing with customers who are in arrears of financial difficulties

Applications for credit from Small and Medium Enterprises

If you are considering using Close Brothers Premium finance Ireland to fund your insurance premiums, please note the following information:


1. Once you apply for credit to fund your insurance premiums we will normally give you our decision on your application on the same day; however, this can take up to five calendar days.


2. As part of your application we will require information about your business, including, but not limited to, your business type; legal name; address; number of employees; company registration number; number of years trading; bank details and financial statements.


3. In some cases we may request a business plan to support your application, including, but not limited to, details of your business; the management structure; the market you trade in; future plans for the business and your historic and forecast financial information. We will inform you if this is the case.


4. Please note, if we refuse your application it won’t have a negative impact on your credit rating.


5. We may require security such as a guarantor; we will inform you if this is the case.


6. As an SME you are entitled to request a meeting with us to discuss your proposed application for credit to fund your insurance premiums; therefore, we offer you the option of a credit review meeting in relation to your credit agreement. Please note the meeting is optional. The review will consider the terms of the agreement and any security arrangements. If you would like us to arrange a review you can contact us at 01 862 2560.

Appeals process

1. You have the right to appeal our decision for the following reasons:

  • Refusal of a credit application
  • A special term or condition which is required by us in order to grant credit, including with respect to the insurance policy and or a guarantor required by us
  • Withdrawal or reduction of a credit facility
  • A special term or condition which is required by us in order to provide an alternative arrangement
  • Refusal to offer an alternative arrangement
  • The classification of a borrower as not co-operating


2. If you would like to appeal our decision, you must do so within 20 working days from the date of notification of our decision, otherwise your appeal will not be considered.


3. We will acknowledge receipt of your appeal within five working days of receiving it.

  • This will include the name and contact details of your point of contact while the appeal panel adjudicates


4. If we cannot make a decision within 15 working days following receipt of your appeal we will get in touch with you to clarify:

  • How long it will take to reach a decision
  • The reason it will take longer than 15 working days


5. Once the appeal panel has reached a decision we will notify you within five working days , and provide an explanation for that decision.


6. The appeal panel decision is final.


Dealing with customers who are in arrears of financial difficulties


It's important that you contact us if your financial circumstances change.  The sooner we are informed, the quicker we can begin to help.


We have also produced a useful information booklet that we encourage you to read as it provides further guidance.  Please click here to view.



We are here to help - contact us

Please send an e-mail, give us a call or send a letter if you require further information


• Email: [email protected]


• Telephone: 01 862 2560


• In writing: Close Brothers Premium Finance Ireland, Building 1 Swift Square, Santry Demesne, Northwood, Dublin 9


Useful contacts

The Irish Government provides a useful online guide to help support SME businesses. The guide provides information on various initiatives set up to help SMEs and provides details on government support available to SMEs to enable them to access credit.

The mabs site provides information about some of the main organisations that deal with money matters and consumer issues, there is also a mabs helpline 0818 07 2000 (Mon – Fri 9am - 8pm)