Bank of Ireland has committed €20m to upgrading its business lending services through the launch of a digital Business Borrowing Hub, designed to significantly reduce the time and complexity involved in securing credit for small businesses and agricultural customers across Ireland.

ThinkBusiness reported that the hub has already processed more than 12,800 applications since its launch last year, representing lending demand of over €433m, with some applications completed in as little as three minutes and credit decisions issued within an hour in certain cases.

Funds can reach customer accounts within 24 hours of approval, representing a material improvement on traditional bank lending timelines that have historically posed cash flow challenges for owner-managed businesses operating on tight financial cycles.

Susan Russell, CEO of Retail Ireland at Bank of Ireland, said the initiative reflects the bank's wider ambition to improve how businesses engage with the institution. Russell said: "As leading lender, our ambition is to make business lending simpler, faster, and more intuitive. By doing so, we empower business owners to focus on what truly matters, building, running, and growing their businesses, while strengthening the trusted relationships we share with them."

Bank of Ireland plans to expand the service further in the fourth quarter of 2026, when a second release will raise the borrowing limit available through the hub to €1m for existing customers, up from the current threshold of €120,000.

The development has direct implications for accountancy practitioners who advise SME clients on funding access, as faster credit decisioning reduces the advisory burden around emergency working capital and short-term finance applications.

The hub is targeted primarily at small enterprises and farmers, two client segments that frequently require rapid access to finance aligned to seasonal or operational demand cycles.

Access the full Bank of Ireland Business Borrowing Hub story.