Lending to Small & Medium Enterprises
We endeavour at all times to be clear and transparent in all our customer engagements and to comply with our obligations under the Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Lending to Small and Medium-sized Enterprises) Regulations 2015 as amended (the “SME Regulations”). The SME Regulations set out the standards you should expect from DLL, covering key aspects of our relationship with you from credit applications and communications, to dealing with financial difficulties when problems occur. The SME Regulations apply to all lending to small and medium enterprises (“SME”) by regulated entities within the Republic of Ireland.
Applying for Credit
If you wish to make an application for credit, please contact us via insidesalesireland@dllgroup.com, or by calling 353 (0)1 481 4100 or by writing to DLL Leasing DAC, 76 Sir John Rogerson’s Quay, Dublin 2, Ireland, D02 C9D0. It is your right to request a meeting with us to discuss a proposed application for credit. It is always a good idea to consult with your financial advisor/accountant to seek assistance and/or review any proposal in advance of meeting with us.
Assessment
As with all requests for financial products, we are required to gather certain information from you to assess your request and we will confirm to you the specific information we require to enable us to comprehensively assess the proposal.
The type and level of information required will vary depending on the nature of the business and the specific credit application but can include:
- Up-to-date financials and management accounts. You must be able to show that the business has the means to repay the loan.
- Detailed business plan, if applicable. Your business plan should include a description of your business, a list of products and services along with the risks associated with this.
- An assessment of your lending needs. You should be clear on how much you wish to apply for.
- Security. DLL’s approach in relation to security requirements to apply a reasonable but commercial approach based on the level of credit being sought, the term of the application and the overall risk profile to ensure prudent and responsible lending by DLL.
On receipt of all the information requested we will acknowledge receipt of your credit application within 5 working days, advising you that we are now in a position to progress your application to the credit assessment stage. We are committed to reverting to you with a decision on your application within 15 working days (unless otherwise advised) of receipt of all the information required to assess the proposal.
DLL have policies and procedures in place to ensure the fairest outcome to your application and undertakes to assess the application on its own merits, ensuring the information requested is relevant and not excessive and that the security requirements will not be unreasonable.
When we have completed our assessment we will provide confirmation of the outcome to you in writing.
Where the credit application is approved, this confirmation will include details of the terms and conditions applicable to the credit application with the relevant interest rate and fees or charges applying.
In the event that your application is declined or partially declined, we will confirm the decision to you in writing, providing you with the reason(s) why we could not accommodate the application and, at the same time, informing you about our appeals process. Applications for credit refused by DLL are reportable by law to the Central Credit Register and may result in a negative impact on your overall credit rating.