The credit review office has increased the threshold for loans which can apply for review from €250,000 to €500,000.

A statutory instrument which gives effect to this change has been signed by the Minister for Finance Michael Noonan and comes into operation from 9 July 2011.

The Credit Review Office was established in 2004 and it provides an independent review process for businesses who have previously been denied credit.

The Minister said the change should encourage more firms to seek reviews.

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