Small Business Credit Appeals Process

Our Credit Appeals Process - who can apply?

Our Appeals process is designed to support any SMEs* (including sole traders and farm enterprises) in the Republic of Ireland who may wish to apply for a review of a decision to decline an application for up to €1,000,000 in new or increased debt facilities.

How does it work?

In the event that your documented credit application is declined, then you are entitled to apply to our Business Credit Review Office who will undertake an independent and impartial review of the original decision.

Click here for eligibility information

* EU definition of an SME - Enterprises which employ fewer than 250 persons and which have an annual turnover of less than €50 million and/or an annual balance sheet total not exceeding €43 million.

What credit applications are eligible for Review?

Nature of facilities

• A formal credit application for between €1,000 and €1,000,000 in new or increased debt facilities*.
• Facilities that are provided for business purposes, i.e. to fund investment in a business with the intention of achieving a return from that business. This definition of business purposes specifically excludes investment in stocks, shares and residential investment properties.

* A formal credit application in the context of SME lending is a request for credit made by submission of the completed SME Business Loan Application Form together with any attachments agreed with the Bank.

Attachments generally include, although not all of these will apply in all cases:

• A business plan/proposal. This should contain specific mention of the critical determinants of success in the particular sector/industry and how the proposed borrower measures up against these determinants.
• An analysis of repayment capacity. Where the proposed borrower is multi-banked the analysis should refer to the proposed borrower's total financial commitments.
• Cashflow projections for the business for a minimum of one year period.
• Up to date financial statements (audited/certified accounts) for three years together with recent management accounts (with an exception for a new business).
• Bank Statements (6 months/12 months).
• Certified Tax clearance.
• Up to date certified statement of affairs of key directors (assets, liabilities and income).
• Background /experience of principals of the business.
• Proposed collateral available to support request for credit.

What credit applications are not eligible for review?

• A request for credit review cannot be sought unless you have submitted a completed SME Business Loan Application Form with attachments as agreed with the Bank.
• In cases where the customer has its primary banking relationship with another institution and the reason for decline is that the requested facilities would be more appropriately provided by that institution, we may elect not to review the case.
• Applications for credit card facilities are not included in the appeals process, nor are applications by customers where the bank has sought repayment of existing facilities.

Basis for appeal

The appeals process is available where any of the following apply:

• The application has been declined.
• The application has been reduced, i.e. the bank has agreed to extend credit, but a lesser amount than requested.
• The borrower has been kept waiting for an unreasonable time for a formal response to their credit application, or internal credit appeal.
• The proposed rate for an approved credit request is unreasonably high, taking account of the risk factors, so as to imply a constructive refusal to supply credit.
• The bank has requested an unreasonable amount of direct or collateral security to cover the lending, taking account of the risk factors, and the valuation of the security.

In the event that your documented credit application is declined, then you are entitled to apply to our Business Credit Review Office who will undertake an independent and impartial review of the original decision. Please check that you are eligible before you start the appeals process below.

How to complete the Ulster Bank Business Credit Review Borrower Application Form.

1. Print a copy of the attached application form (PDF, 85Kb).
2. All applicants must complete Sections 1, 2 and 3.
3. Farmers must complete Sections 1, 2 ,3 AND Appendix A.
4. Please ensure you have filled in all sections and crossed one box in each section. Incomplete applications cannot be processed and will be returned.
5. Sign and date the form.
6. Gather and include any relevant supporting documentation.
7. The signed and dated application form should be returned with the supporting documentation by registered post to:
   
   The Credit Appeals Manager
   Ulster Bank Business Credit Review Office,
   BBRI Strategy Planning & Controls,
   2nd Floor Block D,
   Ulster Bank Group Centre
   Georges Quay
   Dublin 2

The Review Process

• Once your application is received and checked you will receive a notification acknowledging your request for an Appeal and providing you with a case number.
• If your application is not eligible for appeal you will be advised in writing within 3 working days of receipt by the Business Credit Review Office of your Appeal, stating the reasons why your application has been rejected.
• Your Relationship Manager and the Bank's Credit Department will be made aware of your Appeal Application, and the Business Credit Review Office will collate original customer documentation from these sources.
• When all documentation is collated, the Business Credit Review Office will contact you and validate the information received.
• The case is reviewed by an Appeals Panel independent of the original sanctioning process. The decision post review is advised to the Appellant within 28 days of receipt of the initial appeal application.

If you would like further information, please send us an email at creditappeals@ulsterbank.com.

Please do not email the Ulster Bank Business Credit Review Borrower Application Form to the above address. For security reasons, the application form and relevant support documentation need to be sent by registered post. For further details, see How to Apply.